03 Mar 2016 

Excise Duty applied on Garments in Budget 2016 made compatible

Module:

Inventory - Tax Definition - Excise Tariff
Inventory - Transfers - Stock Point Transfer

Enhancement Summary:

The Excise Duty has been re-imposed on garments ranging from garments with RSP INR1000 and above with an abatement of 40% in the National Budget of 2016-17. GINESYS has made the application compatible to this change.

Scenario:

When stock will be dispatched from the excise stock-point only then excise would be applicable on it. So it will be easier to track the excise calculations.

Steps to Implement the change:

1. Create a Document Numbering Scheme with 'Excise Applicable' check box ticked. (Admin> Utilities > Document Settings > Document Numbering Scheme)

2. Tag the Excise document scheme with the respective module.

   IMPORTANT

   Note: Currently it is only compatible with the Stock Point Transfer module but soon will be applicable to the Sales Invoice too.

3. Select the excise document numbering scheme in the Organization Site - Document numbering Scheme list (Admin > Organization Hierarchy >Organization Unit)
4. Create Excise Tariff Master as on date, as per applicable tariff. (Inventory > Tax Definition > Excise Tariff)
5. Tag Excise Tariff with Inventory Group at Department level. (Inventory > Product Definition > Product Hierarchy)
6. Select the Excise document numbering scheme to create new stock out entry document.