Hi All,
I am working for a ready made garment manufacturer. In the recent budget garment manufactuerer have to pay excise @ 10% after the abatement value of 55% on MRP and this is applicable only once the turnover reaches 1.50 Crs inthe current financial year. Till this 1.50 crs is not breached thereis no excise to be paid.
I am using tally ERP and want to maintain the books inthis software only and would prefer if I get my sales invoices printed from tally itself.
While printing the sales invoice from tally I am facing a typical problem.
Since the turnover has not yet reached 1.50 crs i am entering the sales as exempt sales in tally. If I do this then the sales invoice is not showing any assessable value amoount or descripttion onthe printout. I have marked YES at all the boxes.
When I checked this with tally they said that if the sales is an exempted removal then assessable value need not be displayed on the sales invoice. Whereas I have my doubts for the same.
Can anyone who is expert and a regular user of tally help me to get a solution for this wherein the excise duty will be 0.00 but i need the assessable values to be printed on the invoice.
Thanking you all in advance.
Vipul Gandhi
CAclubindia
