DEALER INVOICE

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Dear all,

Want to know the accounting entries at the time of Miro for dealer invoice. I am trying the scenario as mention below.

First stage dealer

This is Traders pass-on scenario.

E.g.:

Material Price = 80/-

Excise Duty = 20/- (BEDECessSECess)

________________________________________

Total =100/-

VAT @4% = 4/-

________________________________________

Grand Total =104/-

________________________________________

Step 1:

Create PO with Base Price as 100/- by selecting tax code which is having VAT as 4% (Total PO value will be 104/-)

Step 2:

Post MIGO and Capture Excise Part - 1

Click on More details icon in Excise tab(header), check MRP Indicator in miscellaneous tab, Enter Assessable value as 80 in Excise tab Item level and enter the excise values BED, ECess , SECess manually, check & save the document.

Step 3;

Post Excise Part 2 in J1IEX.

MIGO-

Stock a/c-80+

GR/IR- 80-

j1iex-

BED- 16+

ECS- 3+

SECS- 1+

Cenvat clearing- 20-

But at the time of MIRO Cenvat clearing account not get cleared.

MIRO-

Vendor- 83.20-

gr/ir- 80+

vat- 3.20+

So here is diff in vat amt also w.r.t PO

Thanks & Regards

Edited by: akshay sonurkar on Oct 10, 2008 9:43 AM