Trading and Manufacturing Excise for ERP (Sage Accpac ERP)

Sage is a leading supplier of business management software and services to 6.1 million customers worldwide. From small start-ups to larger organizations we make it easier for companies to manage their business process. Whether your growth plans include buying and selling in the global marketplace, adding more talent to your team, or expanding your services, Sage Accpac ERP, part of the Sage Accpac Integrated Suite, have the tools and the flexibility to successfully accelerate your business expansion. Supporting different languages and multicurrency transactions, our network of partners in more than 150 countries allows you to confidently conduct business with suppliers and customers anywhere in the world.

Greytrix is an internationally renowned partner of Sage Software with more than 500+ clients worldwide. Greytrix specializes in providing business solutions to SME organizations implementing Sage Accpac ERP and Sage CRM software. Greytrix is an organization recognized globally and well known for its development capabilities in the form of customization and modification abilities, providing data migration and integration solutions as well as other extended solution offered for the ERP/CRM system. With a strong development background Greytrix has developed the Excise module for Sage Accpac ERP, a flagship product of Sage Software. Understanding the complexities of the Indian Taxation system and the need of capturing those essentially into Sage Accpac ERP, Greytrix stepped in with its 100 man years of experience on Sage Products to develop an excise module tackling both manufacturing as well as trading excise transactions.

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 to 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.

In India, the revenue from the Excise Tax is the biggest single financial source. The main objective of the central Government is to achieve different socio-economic policies by making suitable adjustments regarding the scope, nature, and quantum of levy of the Central Excise Tax. Such schemes of the Excise Tax taken by the central government modifies and serves various purposes of price control, adequate supply of essential commodities, promotion of small scale industries and industrial growth.

There are three different types of Central Excise Tax applicable mainly the Basic Excise Duty, Additional Duty of Excise and Special Excise Duty which fall under various Sections of the law. Various trade commodities are issued it these taxes depending on the predetermined government format. Also we have an excise tax that is levied on the service industry. Formerly called the Central Excise Duty, this tax is now known as the Central Value Added Tax (CENVAT). Manufacturers may offset duty paid on materials used in the manufacturing process by using that duty as a credit against excise tax through a process known as Central Value Added Tax Credit (CENVAT Credit). The offsetting process was formerly known as Modified Value Added Tax (MODVAT).

Greytrix Manufacturing Excise Module and Greytrix Trading Excise module for Sage Accpac ERP available for versions 5.4 and 5.5 incorporates these complex tax structures in synch with your finance, inventory and sales distribution.
Greytrix Statutory & Excise module for Trading and Manufacturing offers maintenance of
· Standard registration and statutory information like PAN, ECC, CE, Reg No., VAT, Central Sales Tax No., RG32 Numbering methods
· Excisable and Non Excisable Locations/Warehouses
· 20+ Excise specific Customer
· Information like CE Commiserate, CE Registration Number, ECC,PAN
· 30+ Vendor Information like CE details, Division Details, PAN details, Range Details
· 20+ Item Details for Excisable Items like Tariff Class, Price, Item Type

Along with government aspired reports like Excise Purchase Bill Register, Excise form 2 Part 1 & 2, Excise Stock Register, RG 23 A & C Part 1 & 2, Stock List, Stock Registers and many more. Read more about the features of Trading Excise Module.

Excise Taxes reporting in a trading organization is one of the most crucial and time consuming tasks and a nightmare for the accountants and management. Small and Medium businesses spend days and months in manual data management and collection for reporting to Excise Tax authority and still end up having problems and issues at the final reconciliation.

Statutory and Excise Module for Sage Accpac ERP provides small and medium trading enterprises a seamless way to input information, furnish returns and maintain mandatory registers as required by Indian Tax authorities while making sure that the workflow, inventory valuation, financial reporting and operational modules data integrity is maintained in Sage Accpac ERP provided by Greytrix.