Item Price Inclusive of Excise

er.aman84
er.aman84 Member Posts: 18
edited 2008-02-27 in NAV/Navision Classic Client
This is Regarding The Item Price Inclusive of Excise.

Item price is inclusive of Excise


How we can make tax structure in a purchase order where item price inclusive of Excise, and excise amount based on manufactures actual.


Item X
We bought a particular item from a trader @ 232.96 of 3600 kg
838656.00
VAT @ 4% 33546.24
Total 872202.24



CENVAT Credit passed to us on the basis of followings as manufacturer paid to government as actual:

Suppose Manufacturing Qty - 11000kg
Ass. Val of Manufacturing Qty – Rs 2200000.00 @ Rs 200.00 per kg.
Excise Duty on above 16.48% = Rs. 362560.00


Excise duty passed to us to pay: 2200000/11000 = Rs. 200.00 per unit price
Rs. 200 * 3600 kg = Rs 720000.00
Excise @ 16.48% = Rs 118656.00 (We are liable to pay the amount as excise tax.)

On the basis of above how we can make the tax structure for purchase order.

Thanks

Comments

  • ssingla
    ssingla Member Posts: 2,973
    Excise is Indian localization feature.

    You need to select normal structure of excise as applicable to normal purchase from manufacturers but on the purchase line you need to mark "true" on field "manual excise" and the fill in the field " Excise Value". Then calculate structure and you will get the results you want.

    Do refer to the Indian Localization Manual released by MS India for more details.
    CA Sandeep Singla
    http://ssdynamics.co.in
  • er.aman84
    er.aman84 Member Posts: 18
    ssingla wrote:
    Excise is Indian localization feature.

    You need to select normal structure of excise as applicable to normal purchase from manufacturers but on the purchase line you need to mark "true" on field "manual excise" and the fill in the field " Excise Value". Then calculate structure and you will get the results you want.

    Do refer to the Indian Localization Manual released by MS India for more details.


    We are using nav 4.0 with sp3, where we can get the field you mentioned "Manual Excise". in Purchase line we couldnt get this field.

    reply
  • er.aman84
    er.aman84 Member Posts: 18
    Hi Sandeep singla Sir where r u i am waiting for ur reply.please give me the Solution of above problem.
    Thanks

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