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author's profile photo Former Member
Former Member

JMOP & JMIP

Hi

What is the difference between condition types JMOP & JMIP for BED.

What is deductible and non deductible taxes?

regards

B Shar

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2 Answers

  • author's profile photo Former Member
    Former Member
    Posted on Mar 24, 2008 at 04:37 AM

    Hi,

    JMOP condition is for excise set-off condition whereas JMIP is for excise Invetory condition. For Set-off excise (JMOP), you get the set-off in outgoing excise to be paid based on the excise paid on incoming invoice, this is deductible tax. For Inventory condition (JMIP), the excise paid on incoming material the excise duty is loaded on the inventory value, this is non-deductible tax.

    Hope this clears your query.

    Regards,

    Prashant

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  • author's profile photo Former Member
    Former Member
    Posted on Mar 24, 2008 at 05:02 AM

    JMOP is for Cenvatable BED & JMIP is for Inventorised BED.

    Cenvatable condition type updates the value in cenvatable G/L account which allows to utilise the BED paid on Input materials whereas in the case of non deductible i.e, Inventorised case BED value paid on Input materials will not be updated in the above G/L account but system adds the value to material account.

    Prerequisites for JMOP case are 1) Material must have chapter Id, 2) Supplier/Vendor must submit Excise Invoice and 3) Receiving Plant must have been registered with Excise Registration.

    Hope this is clear and reward if satisfied.

    Regards

    RAGHU / 24.III.08.

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