on 08-05-2008 1:49 PM
Dear Sap Gurus,
Can someone help me what are the things that need to be taken care of after generating the Out going excise Invoice and ARE1...
ie what are the registers that need to updated and how to check the same?
Cheers
Hi,
Country Version India offers two ways of calculating excise duty, condition-based calculation procedures (TAXINN) and formula-based calculation procedures (TAXINJ). TAXINN is only supports condition-based excise determination, whereas TAXINJ supports condition-based excise determination and formula-based excise determination.
As per Indian Law, the excise authorities require you to maintain the following registers relating to excise duty.
u2022 Register RG 1
u2022 Register RG 23A and 23C, Parts I and II
u2022 Register RG 23D
u2022 Personal Ledger Account (PLA)
u2022 Register RT-12
Register RG 23A and 23C
When the ordered materials arrive, you post the goods receipt and the excise invoice. The R/3 system posts the excise duty to the appropriate accounts for deductible input taxes when you enter the excise invoice.
A record of all receipts and issues related to excisable materials is being kept in excise register in RG 23A (Raw Material) and RG 23C (Capital goods) by manufacturing plants. The register consists of two parts:
u2022 Part I shows the quantities of the materials.
u2022 Part II shows the amounts of excise duty on the materials, and how much you have transferred to the CENVAT accounts.
Part I Entries
When you enter a goods receipt for excisable materials, the system automatically asks you if you want to create the Part I entry in Register RG 23A or RG 23C. If so, the system generates a Part I entry. If not, it does not, but you can generate all missing Part I entries later.
In the following to cases, the system does not automatically generate Part I entries for goods issues of excisable materials;
u2022 A goods issue for vendor returns
u2022 A goods issue for stock transport orders for plants (in case of Goods Movements transaction only)
Part II Entries
The system automatically creates an entry in Part II of the appropriate register in case of posting of an incoming excise invoice, or an outgoing excise invoice. All Part II entries are serially numbered. An accounting document for each posting is created by the system to transfer the various types of excise duty to the appropriate CENVAT account.
CENVAT Document
A CENVAT document is an accounting document that the system automatically creates when it generates a Part II entry. The following accounting entry passed in case of Part II entry generation
For an incoming excise invoice;
Account Debit Credit
Basic Excise Duty 1500.00
CENVAT Clearing Account 1500.00
The excise duty is cleared from the clearing account on entering of vendor invoice.
For an outgoing excise invoice;
Account Debit Credit
CENVAT Suspense Account 1700
Basic Excise Duty 1500
Hope this will help you and Please Reward If Really Helpful,
Thanks and Regards,
Sateesh.Kandula
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Hi SD Gurus,
I want to capture a excise Invoice under Rebate....Can someone tell met the prerequistes for carrying out the excise Invoice under Rebate...
In the Excise invoice...No bond refers to the Rebate???Pl confirm....
Once I create a Excise Invoice, Iam creating ARE1 and updating the same....but Iam not sure waht are the things that need to be taken care of while creating excise invoice under bind/LUT/Rebate?
Cheers
Edited by: Cheers on Aug 6, 2008 11:26 AM
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