Manufacturing Excise for Sage Accpac ERP
Manufacturing Excise for manufacturing is an add-on for ACCPAC ERP which captures additional data that is required to furnish statutory reports to the Central Excise division. Excise and Duties is one of the crucial tasks in an accounting process. With Manufacturing Excise for manufacturing module for Accpac ERP, this task is made easier to the end users.
Out of the unlimited taxes levied upon various industries, Excise duty is one more tax applicable on all the goods produced or manufactured here in India. Hence we have Excise duty applicable for traders as well as manufacturers. Every person who manufactures,produces, carries on trade, holds warehouses for excisable goods shall have too obtain registration under the excise laws. No excisable goods may be removed from the factory or a warehouse except under an invoice signed by the owner of the factory or his authorized agent.
Every assessee has to submit to the superintendent of Central Excise a monthly return in the specified form. For specified situations such as manufacture of goods exempt under a notification, a prescribed declaration and/ or a financial statement needs to be filed. Credit of service tax paid on input services, by a manufacturer of goods, is now available, in addition to the credit that was available in respect of inputs/ capital goods.
Manufacturing Excise for manufacturing module for Sage Accpac ERP provides the user an interface to input various information required by government to furnish returns and in maintaining various mandatory registers by a company. The SE Excise module also provides the user to easily change the tax rates, etc when there is a change in central excise rules. One of the crucial tasks in every Indian business/industry is to handle the Central Excise Transactions.
Excise duty is a tax on manufacture or production of goods. The Excise duty on rest of goods is called "Central Excise" duty and is collected in terms of Section 3 of the Central Excise Act, 1944. Sales Tax is different from the Excise duty as former is a tax on the act of sale while the latter is a tax on the act of manufacture or production of goods. Excise The Excise registration number (ECC number) The format of the ECC number as described below: The first 10 characters constitute the Permanent Account Number (PAN) of the person who requests for the ECC Number. The next two characters comprise the category code XM for central excise manufacturers, and XD for registered dealers. The last three numeric characters comprise the code of the warehouse,factory, or the premises of the dealer.
Example: ABCDE1234FXM001 If the manufacturer or the registered dealer has more than one factory, premises (for a dealer), or a warehouse, the registration numbers are issued separately for each such factory, premises of the dealer, or warehouse. In this case, the last three characters of the registration number will be different for each such factory, premises of the dealer, or warehouse.
The components of excise duty used in User Interface:-
BED – Basic Excise Duty
SED – Special Excise Duty
AED – Additional Duty of Excise
SAED – Special Additional Excise Duty
Cess – Cess levied under different Cess enactments
SCess- Secondary Education Cess on Excise duty The excise tariff codes
The excise duty is levied according to the rates that are specified in the Central Excise Tariff Act.