Receipt of Finished Goods (Excise Item) against Job Order in TallyPrime

Recording the receipt of finished goods that are excise-controlled items in TallyPrime requires additional steps compared to regular stock items.

Here’s a detailed explanation with an example:

1. Understanding Excise Stock Items:

• Excise duty is a tax levied on the production or consumption of certain goods in India.
• TallyPrime allows you to track and manage excise duty for stock items categorized as “Excise Stock Items”.

2. Process Overview: Receipt of Finished Goods (Excise Item) against a Job Order

1. You previously created a Job Work Out Order (JWOO) specifying the job details and expected finished goods (excise items) from the job worker.
2. You might have also created a Material Transfer Out voucher to record transferring raw materials to the job worker.
3. The job worker has completed the work and delivered the finished excise goods.
4. You’ll use a “Material In (FG)” voucher with excise considerations in TallyPrime to record the receipt.

3. Steps to Record Receipt of Finished Excise Goods in TallyPrime:

1. Go to Vouchers:

Similar to regular receipts, access the “Material In” voucher:

• Gateway of Tally > Vouchers > Press F6 (Receipt) or Alt+G (Go To) > Create Voucher > Press F6 (Receipt).
• Select “Material In (FG)” (or specific type if available for excise items).

2. Enter Voucher Details:

• Party’s A/c Name: Select the Job Worker (Supplier) account.
• Change Voucher Type (Optional): Ensure it’s set to “Material In (FG)” or the specific type for excise items.

3. Order Details:

• Enter the reference number of the linked JWOO in the “Order No.” or “Reference” field.

4. Add Finished Goods (Excise Item):

• Click on the “Items” section.
• Select the finished good (excise item) from your stock list.
• Enter the quantity of finished goods received.

5. Excise Details:

This section is crucial for excise items. Look for options like:

• Chapter/Heading: Select the appropriate chapter or heading from the excise duty structure applicable to the finished good.

• Rate: Enter the excise duty rate for the finished good (as a percentage).

6. Additional Excise Fields (Optional):

Depending on your TallyPrime configuration, you might see fields for:

Duty Collected By: Specify who collected the excise duty (you or the job worker).

Clearance Type: Choose the clearance type for the finished goods (if applicable).

Challan No.: Enter the challan number (if provided by the job worker).

7. Example:

You sent fabric (non-excise) to a tailor (job worker) for stitching shirts (excise – Chapter 61). The JWOO specified receiving 50 shirts, and the excise duty rate for shirts is 12%.

1. Create a “Material In (FG)” voucher with excise details.
2. Select the tailor’s account under “Party’s A/c Name”.
3. Enter the JWOO number in the “Order No.” field.
4. In the “Items” section, add “Shirts” with a quantity of 50.
5. Excise Details:
   • Select “Chapter 61” for the finished good category.
   • Enter “12” in the “Rate” field for the excise duty percentage.

4. Additional Notes:

• TallyPrime might calculate the excise duty amount based on the quantity, rate, and chosen duty collection method.
• You can link this Material In voucher to a “Purchase Invoice” later to record the final cost, including the calculated excise duty.
• TallyPrime offers excise reports to analyze excise duty liabilities and ensure compliance with regulations.

5. Important Considerations:

• Consult your tax advisor regarding specific excise duty procedures and record-keeping requirements.
• Ensure your TallyPrime configuration is set up for managing excise stock items effectively.
• Maintain accurate excise details while recording receipts of finished goods to avoid potential tax issues.

By following these steps and considering the excise-specific details, you can efficiently record the receipt of finished excise goods against a Job Work Out Order in TallyPrime, ensuring proper inventory management and excise duty compliance.