CASH RECEIPT VOUCHER (CRV)

CASH A/C CODE:

VOUCHER NO.:

DATE:

RECEIVED FROM .

ACCOUNT CODE

SL
CODE

RS.
ACCOUNT
DESCRIPTION

CC
CODE

NARATION.

TOTAL

PREPARED BY

AUTHORIZED BY

CHECKED BY

LINK
REFERENCE

LINK
REF. DATE

RECEIVED BY

AMOUNT
RS.
P.

BANK RECEIPT VOUCHER (BRV)

BANK A/C CODE:

VOUCHER NO.:

DATE:

RECEIVED FROM...
ACCOUNT CODE

SL
CODE

RS.
ACCOUNT
DESCRIPTION

CHEQUE NUMBER
DATE

CC
CODE

S T
CODE

LINK
REFERENCE

DATE

TOTAL

NARATION.
PREPARED BY

CHECKED BY

AUTHORIZED BY

RECEIVED BY

AMOUNT
RS.
P.

CASH SCROLL BOOK

RECEIPTS

AMOUNT

NO

RS.

Ps.

DATE
CURRENCY

ANALYSIS

Rs.

100 X
50 X
20 X
10 X
5X
2X
1X
TOTAL

Coins
TOTAL

PAYMENTS

AMOUNT

VR.
NO.

RS.

Ps.

TOTAL
IOUs ON HAND
NAME

DATE

AMOUNT
RS.

CASH RECONCILIATION
AMOUNT
RS.
Ps.
Cash on hand IOUs on hand
Cheques on hand
TOTAL

PS.

Ps.

CASH PAYMENT VOUCHER (CPV)

CASH A/C CODE:

VOUCHER NO.:

DATE:

PAID TO :...
ACCOUNT CODE

SL
CODE

RS.
ACCOUNT
DESCRIPTION

CC
CODE

NARATION.

TOTAL

PREPARED BY

AUTHORIZED BY

CHECKED BY

LINK
REFERENCE

LINK
REF. DATE

RECEIVED BY

AMOUNT
RS.
P.

PETTY CASH PAYMENT VOUCHER (PCV)

CASH A/C CODE:

VOUCHER NO.:

DATE:

PAID TO ..
ACCOUNT CODE

SL
CODE

RS.
ACCOUNT
DESCRIPTION

CC
CODE

NARATION.

TOTAL

PREPARED BY

AUTHORIZED BY

CHECKED BY

S T
CODE

BILL
NO.

BILL
DATE

RECEIVED BY

AMOUNT
RS.
P.

DA
-TE

VR.
NO
.

Particulars

Total

Carriage
Outward
Ldg. &
Unldg.

Books
&
Periodicals

Octroi
Dittu

StatIonery
&
xerox

Teleram &
Telex

Postage

Local
Converyance

Travel

Re-pair
to
vehicle

Business
Promo
Tion

Lunch

Purchases

Miscellaneous

Amount
Rs.
BUDGET FOR
THE YEAR
CUMULATIV
E EXPENSES
TILL
PREVIOUS
STATEMENT

TOTAL FOR
THE
FORTNIGH
T
CUMULATI
VE

particulars

EXPENSES
CARRIED
FORWARD

REPORT ON IMPREST UTILISATION AS ON

RS.

CASH ON HADN

..

Add

Reimbursement received from corporate

Office

---------------TOTAL
---------------Less

Expenses incurred & reimbursement

Less

Expenses incurred & not reimbursement

---------------TOTAL
----------------

PREPARED BY
DATE :

AUTHORISED BY:
DATE :

CASH BOOK
FOR THE MONTH OF.
DOCUMENTS PARTICULARS ACCOUNT CODE ACCOUNT DESCRIPTION SL.
CC LINK FC. DEBIT CREDIT BALANCE
CODE
REF. NO.
TYPE NO. DATE

IMPREST REGISTER
EMPLOYEE CODE

NAME OF EMPLOYEE

DOC
NO.

TYPE

PREPARED BY

LOCATION :

DATE

AMOUNT
RS.

SETTLED VIDE
CPV NO.
DATE

AUTHORISED BY :

REMARKS

REPORT ON PENDING IOUS

AS ON
IOU NO.

PREPARED BY

DATE

NAME OF THE PERSON

AMOUNT
(RS.)

BANK PAYMENT VOUCHER (BPV)

BANK A/C CODE:

VOUCHER NO.:

DATE:

PAID TO ..
ACCOUNT CODE

SL
CODE

RS.
ACCOUNT
DESCRIPTION

CHEQUE NUMBER..
DATE ..
NARATION.
PREPARED BY

CHECKED BY

CC
CODE

S T
CODE

LINK
REFERENCE

DATE

TOTAL
AUTHORIZED BY

RECEIVED BY

AMOUNT
RS.
P.

BANK BOOK FOR THE MONTH OF.

BANK CODE:
DOCUMENTS PARTICULARS ACCOUNT CODE CC
TYPE NO. DATE

BANK NAME :
SL.
CHEQUE DATE
DEBIT
CREDIT BALANCE
CODE
NO.
AMOUNT AMOUNT
(RS.)
(RS.)
(RS.)

BANK RECONCILIATION STATEMENT

AS ON
Account No.

Bank Name

:
Rs.

Rs.

Balance as per cash book

Add

Cheques issued by VERA not

Presented (Schedule A)
Credit in bank statement not
Accounted in cash book
(Schedule B)

Less

Cheques deposited by VERA

Not credited by bank
(Schedule C)
Debits in bank statement not
Accounted in cash book
(Schedule D)
------------------------------Balance as per bank statement
-------------------------------

PREPARED BY

CHECKED BY:

CC TO:

CASH FLOW STATEMENT FOR THE MONTH OF ..

OUTFLOWS

INFLOWS

ITEM

AMOUNT
BUDGET
ACTUAL

ITEM

1. COLLECTIONS FROM CUTOMARS

FROM CUSTOMERS

1. PAYMENTS TO SUPPLIERS-RAW
MATERIAL

2. ADVANCES FROM CUSTOMERS

2. PAYMENTS TO SUPPLIERS-OTHERS

3. LOANS FROM BANKS / FI

3. EXCISE DUTY

4. DEPOSITS FROM CONTRACTORS

4. PAYMENTS TO JOBBERS

5. SALE OF INVETMENTS

5. INTEREST-TERM LOAN

6. SALE OF ASSETS

6. INTEREST - CC

7. INTER BANK TRANSFERS.

7. INTEREST-INTER CORPORATE
BORROWEINGS

8. ISSUE OF SHARES

8. INTEREST-FIXED DEPOISTS

9. ISSUE OF DEBENTURES

9. PAYMENTS TO SUPPLIERS CAPITAL

ITEMS (CEPS)

10. INTEREST ON INVESTMENTS

10. POWER CHAREGES
11. INTEREST ON INTER
CORPORATE LOANS
12. OTHERS.

11. SALARIES & WAGES

12. ADMINISTTRATIVE EXPENSES
13. SALES TAX
14. INTER-BANK TRANSFERS
15. OTHERS
TOTAL

.AMOUNT .
BUDGET
ACTUAL

3. SALES ACCOUNTING - EXPORTS

OBJECTIVES
3.01

The objectives of the export accounting module are listed as follows :

(a)

To ensure timely accounting of all export transactions, viz.

-

invoices

realisation

lodging of claims for incentives

(b)

To ensure that export credit available are properly utilized

(c)

To ensure compliance with statutory formalities.

(d)

Timely claim of export incentives.

KEY CONTROL FACTORS

3.02

The main areas where control is to be exercised are :

(a)

Timely liquidation of post-shipment credits

(b)

To ensure that all claims are accounted

(c)

Constant monitoring of currency rates to obtain best rates

(d)

Accounting for exchange fluctuations.

OVERVIEW
3.03

An overview of proposed system for sales accounting exports is presented in

Exhibit 3.1.

EXHIBIT 3.1
SALES ACCOUNTING EXPORT

RECEIVE COPY OF
ORDER
CONFIRMED OR
BACKED BY LC

AVAIL PRESHIPMENT CRDIT,

75% OF ORDER
VALUE

RECEIVE INVOICE
ON SHIPPING AND
OTHER RELATED
DOCUMENTS VIZ.
BOE, PACKING
LIST, CERTIFIATE
OF ORIGIN ETC.

RECEIVE BANK
CREDIT ADVICE &
PREPARED BRV
BY CREDITING
EXPORT PRESHIPMENT CREDIT
A/C

SUBMIT THE
ENTIRE SET OF
DOCUMENTS TO
BANK FOR
DISCOUNTING.

RECEIVED ADVICE
FROM BANK FOR
DISCOUNTING
AFTER ADJUSTING
EPC AND
DISCOUNTING
CHARGES

AUTHOSISATION
OF SUCH
VOUCHERS
PREPARED

PREPARE
NECESSARY
VOUCHERS AS
STATED IN
PROCEDURES

REPORTS AS
STATED IN
PROCEDURES

POLICIES

1.

Export sales will be recognized in the books of accounts when goods are shipped
from port of origin on the basis of Bill of Lading.

2.

Accounting entries will be made at invoice value in rupees.

3.

Stock at port, if any, at month-end/year-end will be valued at factory cost.

4.

Documents will be negotiated with the same branch bank from which export credit
facilities are obtained.

5.

Export incentives will be accounted as and when received/realized.

6.

To comply with Accounting standard 11 for accounting the effects of changes in

foreign exchange rates.
The following policies in addition to comply with As 11 are,
(a)

Sales returns should be accounted at the same rate at which the original sale
was accounted.

(b)

Credit notes for value (discounts etc.) should be accounted at rate

prevailing on the date of credit note.

RESPONSIBILITY

SL.NO.

ACTIVITY

FREQUENCY

Corporate
Accounts

1.

Receive copy of order, which can be

either confirmed or backed by Letter of
credit from Marketing department.

As & when

2.

Avail pre-shipment credit on submitting

the necessary documents along with
order. The value of pre-shipment credit
being 75 % of the value of order.

3.

Prepare a Bank receipt voucher for the

amount received as Pre-shipment credit
and update Export finance register. The
credit shall be given to an account by the
name of Export pre-shipment Credit
Account in the GL.

Factory
Accounts

4.

Prepare invoice and authorise raised on

the party.

Commercial
Department

5.

Compilation of all necessary documents

for negotiation with bank viz. Bills of
Exchange, Invoice, Order, Packing List,
Insurance Cover, Certificate of Origin,
etc.

Corporate
Accounts

6.

Discount the Bill of Exchange with

Bank.

7.

Receive credit advice from bank for bill

discounted. Bank adjust the Preshipment credit account, debit
discounting charges and balance if any
credited to cash credit account.
Prepare necessary voucher for debiting
discounting changes, export preshipment
credit account and cash credit account for
the balance.

RESPONSIBILITY

SL.NO.

ACTIVITY

Corporate
Accounts

8.

Update debtors ledger for value received.

The accounting entries will be as follows:

FREQUENCY

(i) At the time availing pre-shipment

credit Dr Cash credit A/c
To export pre-shipment Credit A/c
(ii) After discounting the Bills of
Exchange,
(a) Dr. cash credit A/c
Dr Discounting Changes A/c
To Debtors
(b) Export pre-shipment Credit A/c
To Cash Credit A/c
9.

Follow up for any dishonour by Debtor

with the bank. For any such dishonour,
prepare a bank payment voucher and
reinstate the debtor and also charge penal
interest at 24 % p.a. for the days of delay.

Treasury
Department

10.

Monitor effectively for any fluctuation in

exchange rates and take action as to
cover by forward contracts or hedging
accordingly.

Manger
Accounts

11.

Prepare Bank receipt voucher fro claims

received against exports.

As & when

REPORTS
1.

Export sales product wise

Monthly

2.

Discounting charges incurred

3.

Profit / (Loss) on forward contracts

4.

Default by debtors

5.

Utilisation or Pre-Shipment
Credit & discounting facilities

6.

Rebate on exports received during

the month and claims lodged

LIST OF STANDARD EXPORT DOCUMENTS

1.

Invoice

2.

Packing List

3.

Intimation for inspection

4.

Certificates of Inspection / In-process Quality Control

5.

Form AR 4

6.

Marine Insurance declaration

7.

Marine Insurance Certificate

8.

Shipping Instruction

9.

Mates receipt

10.

Bill of lading

11.

Certificate of origin

12.

Shipment Advice

13.

Letter to bank for Negotiation of documents.

REPORT ON EXPORT SALES PRODUCT WISE

FOR THE MONTH OF
SL.NO.

PRODUCT

PREPARED BY :

THIS MONTH
YEAR TO DATE
BUDGET ACTUALS BUDGET ACTUALS

VARIANCE
THIS
YTD
MONTH

REPORT ON EXPORT DEBTORS DEFAULT

FOR THE MONTH OF.
(RS. IN LACS)

SL.
NO.

DEBTORS CODE
AND NAME

PREAPRED BY:

INVOICE NO.
AND DATE

AMOUNT

DUE DATE

BILLS
DISCOUNTED
WITH BANK Y/N

IF YES, DISC.
CHARGES IN
RS.

TOTAL
AMOUNT
TO BE
COLLECTED
RS.

SUMMARY REPORT ON KY FIGURES

WITH RESPECT TO EXPORT SALES
FOR THE MONTH

(RS. IN LACS)
SL.NO.

PARTICULARS

AMOUNT IN
RS.

1.

Discounting charges on Export bill

2.

Duty rebate claims lodged

3.

Profit /(Loss) on Sale of forward

contracts

4.

Utilised amounted of Pre-shipment

credit

5.

Discounting facilities Utilised.

PREPARED BY

REMARKS

EXPORT FINANCE REGISTER

EXPORT
ORDER

PARTY
NAME

DESTINATION

CURRENCY

VALUE

FC

PREPARED BY

RS.

TERMS
OF PAYMENT

PRESHIPMENT

BANK

DATE

INTEREST

AMT

VERIFIED BY

DATE
OF
LIQUIDATION

DATE
OF
SHIPMENT

BOL
NO.

INVOICE

POST-SHIPMENT

NO.

BANK

DATE

AVAILED

APPROVE BY

INTEREST
AMOUNT

DATE
OF
LIQUIDATION

REALISATION

DATE

BANK
CHARGES
AMT

4.

SALES ACCOUNTING - DOMESTIC

OBJECTIVES :
4.01

The main objectives of sales accounting are as follows :

(a)

Prompt accounting of sales, collections, debit notes and credit notes

(b)

Timely generation of debtors ledger and again analysis to follow-up out

standings.

KEY CONTROL FACTORS

4.02

4.03

Add 81 - 82

The key control factors in sales accounting would be to ensure that :

(a)

all dispatches are invoiced and accounted.

(b)

all collections against invoices are properly accounted

(c)

all discounts on invoices are as per policy on discounts exceptions are

properly authorised.

(d)

all transactions are linked to an invoice to reflect true age-wise

outsnadings.

(e)

value and quantity on credit notes / pertaining to an Invoice do not exceed

value and qty. in the invoice.

An overview of proposed sales accounting system is presented in Exhibit 4.1.

4.4

POLICIES
1.

Invoicing and dispatches to be made from factory and accounting of the

same at Corporate office.

2.

Sales Tax Register will be maintained at factory so as to file sales tax

returns on a monthly basis.

3.

Customers collection follow-up and receipting will be done at Corporate

Office.

4.

Discounts given in Invoices will be as per the Marketing policy.

5.

Additional discounts, if any given to be authorized by CMD.

6.

Sales returns will be accepted only after Quality Control Departments

approval as to the technical nature of rejections.

Assistant Sales

SL.
NO.
1.

-do-

2.

-do-

3.

RESPONSIBILITY

ACTIVITY
Receive copies of Despatch
Advice from Despatch Officer.
Check with the copy of order
confirmation for the rates. Also
check with Advance register if any
advance has been paid by
customer.

-do-

4.

Accounts Officer

5.

Forward all copies of the invoices

to the Manager (Accounts).

-do-

Accounts Assistant

6.

-do-

-doPrepare Excise invoice cum

Delivery challan based on details
of despatch advice. Ensure all
relevant details have been filled in
invoice.

-do-

FREQUNE
CY
As & when

Scrutinise the invoice with

Despatch Advices and Customer
Order. Ensure rates have been
correctly mentioned.

-do-do-

-do-

7.

Test check calculations and sign

all copies as per the authorization
of a Boards resolution.

-do-

8.

Distribution of the invoice copies.

Original to buyer, second copy to
transporter, 3rd copy to Accounts,
4th to Marketing, 5th to Excise, 6th
to Extra.

-do-

File the invoice copy serially.

IN

CASE
OF
TRANSACTIONS

L/C

RESPONSIBILITY
Marketing Manager

SL.
NO.
9.

-do-

10.

ACTIVITY
Receive Customers Purchase
Order and L/c from the customer.
Communicate L/c terms to the
commercial Dept. by sending a
copy of both P.O. and L/C.
Advice the despatch officer with
regard to any specific terms to be
met, as specified in the L/c.

Marketing Assistant

Commercial Dept.

11.

12.

-do-

13.

-do-

14.

Receive a copy
other documents
stores as required
L/c and forward
Dept.

FREQUNE
CY
As & when

Per delivery
date of
customers
order

A day after
of Invoice and despatch
from Accounts
per the terms of
to Commercial
As & when

Send the invoice to Bank along

with then acknowledged Invoice,
Material Receipt voucher and
packing list (if required)
Check L/C terms
compiled with.

have been

-do-do-

Send a covering letter along with

following
documents
for
negotiations with bank
(a) Original & copy of invoice
duly acknowledge
(b) Packing list, if required
Accounts Officer

15.
REPORTS
Refer Sales day book and prepare
following reports:

Monthly
-do-

(a) Customer wise Sales report

(b) Product wise sales report

CREDIT NOTE
Credit Notes may be issued to customers for various reasons. A few of them are listed
below and the appropriate activity, responsibility and frequency of issuing credit notes are
explained.
1. Error as to value/quantity in Sales Invoice
2. Discounts/ Incentive given by way of credit note
3. Others

Accounts Officer

SL.
NO.
1.

-do-

2.

RESPONSIBILITY

ACTIVITY
Receive the necessary back papers
and credit note requisition with
proper authorization. A Credit
Note will have to be limited to an
individual invoice.

FREQUNE
CY
As & when

-doCheck for the genuineness of the

claim and back papers.

-do-

3.

-do-

4.

-do-

5.

-doPrepare necessary credit note and

get it authorized by Manager
Accounts.
Send original to the customer and
a copy to the marketing
department.

-do-do-

File credit notes chronologically &

serially.
-do-

6.

Monthly
REPORTS
Prepare Credit note analysis report
indicating customer wise/Reason
wise credit notes generated.

DEBIT NOTE
Debit notes are issued to customers on different grounds. A few of them are listed
below and the necessary activity, responsibility and frequency of issuing debit notes
are explained below.
1.

Error as to value / quantity in Sales Invoice

2.

Penal interest on delayed payments

3.

Others

Accounts Officer

SL.
NO.
1.

-do-

2.

Check for any policy guidelines /

and verify the back papers with the
respective ledgers / register.

-do-

-do-

3.

Prepare necessary debit note and

get it authorized by Manager,
Accounts.

-do-

-do-

4.

RESPONSIBILITY

-do-

5.

ACTIVITY
Receive the debit note request with
necessary approval and back
papers. Each Debit Note to be
linked to a particular invoice.

FREQUNE
CY
As & when

-doSend original to the customer and

a copy to the Marketing
department.

-do-

File debit notes chronologically &

serially.
RESPONSIBILITY

SL.
NO.

ACTIVITY

FREQUNE
CY

Assistant

1.

Match Invoice and S.O. Check

dispatched items and quantity with
invoiced items and quantity.

Daily

-do-

2.

Check rates on invoice with sale

order and amendment, if any.

-do-

-do-

3.

File Exercise Invoice cum

Delivery challan in serial order.

-do-

-do-

4.

Update records for invoices /

credit notes/ debit notes raised in a
month.

Manager Accounts

5.

6.

Accounts Officer

7.

DEBTORS LEDGER
MAINTENANCE
Scrutinise Debtors Ledger along
with ageing analysis and review
those accounts where outstandings
are long overdue as per credit
policy. Follow-up with Marketing
department.
Prepare debtors
movement analysis.
Review all credit balances and
ensure that no invoices have been
omitted.

Monthly

-do-

-do-

SALES TAX RETURNS

Manager Accounts &
Sales Tax Consultant

8.

Assistant

9.

Manager Accounts

10.

Prepare monthly Sales Tax

Returns in prescribed forms on the
basis of Sales Tax register after
considering Debit notes and Credit
notes raised.
Scrutinise Sales Tax Return with
reference to Sales Day Book and
Debit / Credit note adjustments.
Tally overall invoices; debit note,
credit note totals with Sales Tax,
other elements like octroi, freight
etc., and net sales.

-do-

-do-

-doPrepare a Bank Payment Voucher

separately for state sales Tax,

RESPOSIBILITY

SL.NO.

ACTIVITY

FREQUENCY

Marketing
Assistant

1.

Receive cheque / DD from customer.

As & when

2.

Check for prima facie validity of

cheque / DD with invoice and send
to Accounts.

Accounts
Assistant

3.

Deposit cheques / DD in bank by

preparing Bank-pay-in slip.

4.

Prepare Bank receipt voucher with

invoice reference number.

5.

Obtain authorization from MangerAccounts on Bank receipt voucher.

6.

Update customer sales ledger.

LIST OF FORMS USED IN THIS SYSTEM

SL.NO.

CODE

TITLE

1.

SDB

Sales Day Book

2.

CSL

Customers Ledger

3.

DN

Debit Note

4.

CN

Credit Note

5.

IDR

Interest due on delayed realized receipts

6.

CNR

Credit Note Register

7.

DNR

Debit Note Register

8.

CCP

Customer wise collection performance

9.

AAD

Ageing Analysis Debtors

10.

CSM

Customer Wise sales performance

11.

PSR

Product wise sales Report

SALES DAY BOOK

FOR THE MONTH OF
Inv.
No.

Date

Page Total

Total

PREPARED BY :

Cust.
Name

ST
Category

Product

Qty.

Rate

Basic
Price

Excise
Duty

Sales
Tax

Disc.

Frt.

Ins.

Inv.
Amt.

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

---------

CUSTOMER LEDGER / CUSTOMER ACCOUNT

STATEMENT FOR THE MONTH OF
Customer Code :

Type

Document
No.
Date

Customer Name :

Particulars

Opening Balance

Closing Balance

Account
Code

Link
Ref No.

Date

Debit

Credit

Balance

DEBIT NOTE

PARTY CODE :
VLL

PART NAME

DN NO :

DATE :

ADDRESS
:
We advice having debited your account as per details below :
Cost Centre
Sales Tax Code
Unit Rate Incl/Excl ST
Sl.
Product
Reason for Debit Note
No.

Invoice
Ref.

Date

Quantity

Amount
(RS.)

Rupees
TOTAL
Sales Tax @
For VERA LABORATORIES LTD.

PREPARED BY :

Freight/Handling/
Charges
Gross Amount
debited

CREDIT NOTE

PARTY CODE :
VLL

PART NAME

DN NO :

DATE :

ADDRESS
:
We advice having debited your account as per details below :
Cost Centre
Sales Tax Code
Area Code

Sale Type

Sl.
No.

Invoice
Ref.

Quantity
Product
Code

Reason for Credit Note

Unit Rate Incl / Excl ST

Date
Nos.

MT

Amount
(RS.)

Rupees
TOTAL
Sales Tax @
For XYZ

PREPARED BY :

Freight/Handling/
Godown Service
Charges
Gross Amount
Credit

INTEREST DUE ONDELAYED REALISED RECEIPTS

FOR THE MONTH OF :
Customer Code :
Receipt
Date
No.

Cheque
No.

Amount

Date of
Deposit
----------

Date of
Realisation
(1)

Name :
Document Reference Amount
Adj.
No. Type Date
(2)

(3)

Customer Total

Customer Group Total

GRAND TOTAL
PREPARED BY :

Overdue Interest
[(3)] X [(1) (2)][Credit] [Period] X24
[------------------] ---[
365 ] 100

CREDIT NOTE REGITER

VLL

Date :
Page :

Cr. Note
No.

Cr. Note
Date

GRAND
TOTAL
PREPARED BY :

Customer
Code &
Name

Invoice
No.

Shortage

Ins.
Discounts
Return of
Amt.
Sale
Claim.
[ Amount in Rupees ]

Others

GL
A/c code

DEBIT NOTE REGISTER

FOR THE MONTH OF ..

Dr. Note

Date

PREPARED BY :

Document Ref.
No.
Type

Date

Customer
Code

Name

Particulars

GL
Code

Amount

CUSTOMERWISE COLLECTION PERFORMANCE

FOR THE MONTH
VLL

Date :
Page :

Code

Product :
Customer
Name

Customer Group Total

Customer Group Total

Product Code :
Opening
Total
Total Debit
Total
Balance Invoices
Notes
Collections
Less
Advance
(1)
(2)
(3)
(4)

Total
Credit
Notes
(5)

Closing
Balance
Less
Advance
(6)

Change in
Balance
(6) - (1)

Collection
%
(4) + (5)

(1)
(7)

(1)+ (2)+ (3)

(8)

101
AGEING ANALYSIS OF DEBTORS
MONTH:
Sl.
No.

Debtor

Balance

Agewise (Months)
0-1

1-2

2-3

3-4

Opening balance of Debtor

Add : Sales / Debit Notes

Less : Collections / Credit Notes

Closing Balance

PREPARED BY:

4-5

5-6

>6

Date:
CUSTOMER WISE SALES PERFORMANCE
Page:
FOR THE MONTH.
Customer
Code

Name

Customer
Group Total

GRAND
TOTAL
PREPARED BY:

Budgete
d Sales

Volume (MT)
Actual
Variance
Sales

Value (Rs.)
Budgete
Actual
Variance
d Sales
Sales

Date:
PRODUCT WISE SALES PERFORMANCE
Page:
FOR THE MONTH.
Sl.
No.

Product Code

PREPARED BY:

This Month
Budget

Actuals

Year to date
Variance

Budget

Actuals

Variance

VERA LABORATORIES LTD.

Telephone No
Fax No
Cable No.
Telex No.
CST No.

INVOICE

:
:
:
:
:

C.E.Regn. No. :

Invoice No.

E.C.C. No.

Date & Time of issue of Invoice :

PLA No.

Date & Time of removal :

Name and address of the Consignee

Customer Order No.

Date
Consignee Sales Tax :

Name of the Product

Registration No.

APGST No.

CST No.

Chapter Heading & Sub Heading No.

Debit entry Sl. No.

PLA:

Exemption Notification, if any

Rate of duty : BED :

AED :

RG 23 A

Despatched to

Through

L.R. No. & Date

Sl.
No.

AED (T) :

L.R. Favouring

Description and
Specification of goods

No. and Description of

Packages

Freight :
Total
quantity
(net)

Price of goods
(per Unit)

Total Price of
goods

Total duty
paid

Total duty Paid in words : Rupees

Mode of transport

Motor Vehicle Regn No.

By Rail

Name of Booking & receiving station :

Certified that the particulars given above are true and correct and the amount indicated represents the price actually charged that there
is no flow additional consideration directly or indirectly from the buyer.
For VERA LABORATORIES LIMITED

Authorised Signatory
5. PURCHASES
OBJECTIVES
5.1

The objectives of the recommended purchases system are :

(1)

To ensure completeness of accounting

(2)

To follow accrual system of accounting

(3)

To reflect correctly the liabilities incurred by the company.

KEY CONTROL FACTORS

5.2

The key control factors for the purchases system would be:
(1) Serial control over all bills and supporting documents like Goods Received &
Inspection Notes, Delivery Challans etc.
(2) Checks to ensure that all bills passed are accounted immediately
(3) To monitor advances paid and ensure timely adjustment of the same
(4) To pay suppliers on the due dates.

COVERAGE
5.3

This chapter would cover procedures for bill passing in the following areas :

Raw Materials

Stores and Spares

Others.

An overview of proposed systems in these areas is presented in Exhibit 5.1.

EXHIBIT 5.1
BILL PASSING
ACTIVITY FLOW CHART
RAW MATERIALS
COPIES OF
PURCHASE
ORDER

GRINs
COPIES FROM
R.M. STORES

FILE IN SERIAL

BILLS
FROM
SUPPLIERS

ENTRY IN
BILL SERIAL
REGISTER

ORDER
MATCH BILL TO GRIN, P.O AND
CHECK BILLED QUANTITY AND
ACCEPTED QUANTITY, RATES
AS PER P.O. AND BILL, AND PASS
BILL

RETURN PO
TO FILE

PREPARE PJV TO ACCOUNT

FOR R.M. STOCK AND
MODAT CREDIT AND
ENDORSE P.O.

FILE PJV IN SERIAL ORDER

WITH SUPPORTINGS

DATA ENTRY

UPDATE BILL
SERIAL
REGISTER

PURCHASE DAY
BOOK

STORES & SPARES

P.O. COPIES
FROM PURCHASE
DEPARTMENT

GRIN COPIES
FROM
STORES

BILLS
FROM
SUPPLIERS

ENTRY IN
SERIAL
REGISTER
P.O.S.
FIELD IN
SERIAL ORDER

CHECK RATES
( P.O. & BILL)
QUANTITIES
(P.O. GRIN & BILL)
TERMS OF DELIVERY
AND PASS BILLS

PREPARE PURCHAE
JOURNAL VOUCHER

RETURN P.O.
TO FILE

OBTAIN APPROVAL ON PJV,

ENDORESE P.O.

FILE PJV ALONG WITH

GRIN & BILL IN PJV SERIAL

DATA ENTRY

UPDATE PJV
DETAILS

PURCHASE DAY BOOK

OTHERS
COPIES OF P.O. /
SERVICE
ORDER

COPIES OF GRIN
FOR MATERIAL
RECEIPTS

FILE IN SERIAL

BILLS FOR
SERVICES &
MATERIALS

ENTRY IN
BILL SERIAL
REGISTER

ORDER
CHEK RATES AND QUANTITIES
FOR MATERIALS
(STATIONERY ETC.)
CHECK RATES AND WORK DONE
FOR SERIVCE ORDERS

RETURN P.O. /
S.O. FILE

PREPARE JV ENDORSE
P.O. / S.O. FOR QUANTUM OF
MATERIAL RECEIVED /
WORK DONE

DATA ENTRY

PURCHASE DAY BOOK

UPDATE BILL
SERIAL REGISTER
WITH JV DETAILS

CREDITORS LEDGER

BANK BOOK

PURCHASE
DAY BOOK

COMPILE CREDITORS
LEDGER &
AGEWISE ANALYSIS

PREPARE
JV FOR
ADJUSTMENT

JOURNAL

POLICIES

1.

All passed purchase bills shall be compained by GRINs and

purchase order.

2.

For emergency purchases, a confirmatory purchase order shall be

issued.

3.

No single purchase of any item shall be made for more than

Rs.20000/- in cash, even emergency purhcases.

4.

All purchases accounting shall be centralised at corporate Office,

Hyderabad.

5.

Control over unutilised advances paid to a supplier by initiating

action either refund or to supply the material.

RESPOSIBILITY

SL.NO.

Accounts
Assistant

1.

Receive copies of purchase

orders (PO) (wherever
applicable ) and file in serial
order.

2.

Receive GRIN &Excise Invoice

copies from Excise department,
make entries in GRIN register
and file in serial Order.

3.

Review unmatched bills file.

Match bill to GRIN and P.O.
Check rates (P.O. & bill) and
quantity acceipted as per GRIN
and quantity billed. Also check
for terms of delivery and excise
duty charged.

4.

Prepare Purchase Journal

Voucher (PJV) . Segregate
excise duty portion and account
it as MODVAT credit.

Manager Accounts

5.

Check PJV and approve.

6.

File PJV with bill in PJV, serial

after numbering PJV, in Passed
Bills File

7.

Hand over PJVs for dataentry

and receive Purchase Day
Book.

Assistant

ACTIVITY

FREQUENCY
As & when

As & when

As Schedule

8.

Review GRIN register for GRIN

raised where bill has not been
received and accounted, send a
reminder to purchase dept. for
getting bills from suppliers.

Month end

RESPOSIBILITY

SL.NO.

ACTIVITY

FREQUENCY

9.

Prepare a JV for creating a

liability for materials received
and bills not received at
purchase order rates, taking
excise duty at standard rates.

Manager
Accounts

10.

Authorise JV after checking

details.

11.

Receive statement of account

from supplier, check with
supplier sub-ledger transactionwise.

As & when
received

12.

Confirm balance on supplier

statement of account if it tallies
with balance as per Xyz book

Year end

LC Opening
Assistant

1.

Receive purchase Orders for

Imports and file serially.

As & When

2.

Receive amendments to Pos

and file alongwith P.O.

3.

Receive intimation from

Purchase Department for
opening Letter of Credit (LC).

Accountant

4.

Preapre LC forms and get GM

(F) approval.

5.

Send LC copies to the bank for

registration.
Assistant

6.

Receive copy from bank duly

registered giving LC number,
File separately.

7.

Receive Bill from Foreign

supplier.

RESPOSIBILITY

SL.NO.

ACTIVITY

FREQUENCY

Assistant

8.

Allot Serial number and enter in

Bill Serial Register.

As & when

9.

Receive intimation from bank

regarding receipt of documents
from foreign supplier. Also
receive copy of documents.

Accountant

10.

Check documents with purchase

Order and send acceptance to
bankers.

11.

Receive debit advice from

bankers, along with original
documents.

12.

Check and certify the Bank debit

advice with respect to the
following :

(i)

Value of the bill

(ii)

Current foreign
exchange rate

(iii)

Bank charges.

Assistant

13.

Forward Bank debit advice cash

and bank section for preparation
of debit voucher.

14.

Send the original documents to

the Clearing Agents.

15.

Receive intimation of clearance

of imports and duty assessed.

16.

Prepare a BPV for customs duty

portion; and forward to cheque
issue section.

17.

Receive cheque and forward to

Clearing agent and intimate
purchase department.

RESPOSIBILITY

SL.NO.

Assistant

1.

Receive purchase orders (PO)

and file them serially.

2.

Receive Amendment Pos.

Match and file them together
with original PO.

3.

Receive copy of Goods Receipt

cum Inspection Note (GRIN).
Ensure that PO reference is
entered.

4.

File GRINs serially.

5.

Receive purchase bills, make

entries in bill serial register and
note down serial number on bill.

6..

Obtain last GRIN no. for the

month from stores department.

1st of following
month

7.

Match GRIN to corresponding

bil using suppliers name,
despatch challan details, and
purchase order reference.

Daily

8.

For each matched bill, obtain

the PO from the PO file.

Accountant

9.

Check the following in the bill

from the PO :

ACTIVITY

(i)
(ii)

Rate agreed
Other terms

FREQUENCY
Daily

(iii)
(iv)

Whether quantity
delivered is covered in
PO
Delivery schedule

Assistant

10.

Verify arithemtical accuracy of

the bill.

11.

RESPOSIBILITY

SL.NO.

Calculate the value of accepted

items as indicatedin the GRIN .
ACTIVITY

Assistant

12.

Deductions from the bill will

arise in the following cases :(i)
(ii)
(iii)

FREQUENCY
Daily

Value of rejections
Changes in rate agreed,
or other special terms
Computation and totalling
errors.

13.

Prepare a Purchase Journal

Voucher (PJV) with details of
suppliers name, account code,
amount etc.

Manager
Accounts

14.

Check PJV for account code,

party code and passed amount
with bill GRIN and PO and
endorse. Deface all supporting
documents. Both stock account
and Modvat credit account to be
updated.

Assistant

15.

Update Bill serial register with

PJV details on the bill. Give
details of deductions on the
reverse.

16.

File in Passed Bills file.

17.

Enter the accepted quantity from

GRIN on the reverse of the PO.
Arrive at the balance in the PO
quantity.

18.

Prepare a Debit Advice Note

(DA) in triplicate for the amount
deducted from the bill,
mentioning clearly the reasons.

STARTING 130 & ADD 121 TO 129

As & when

VLL
PJV
NO.

DATE

SUPPLIER
CODE NAME

PO
NO.

PURCHASE DAY BOOK

FOR THE MONTH OF .
GRIN
BILL
CC
A/C
A/C
CODE
CODE
DESC.
NO.
NO.

DATE :
PAGE ;
PARTICULARS

AMOUNT

MATERIAL
DESCRIPTION

REMARKS

SUPPLIER SUBLEDGER
FOR THE MONTH OF .
SUPPLIER CODE:
SUPPLIER NAME:
*REF. PARTICU ACCOUNT
DOCUMENT
LARS
CODE
NO.
TYPE NO. DATE

Date:
Page:

VLL

DEBIT

CRDIT

BALANCE

OPENING BALANCE :

CLOSING BALANCE :

PREPARED BY :
* NOTE

PO referene to be given for Invoices Cheque no. to be

given for payment.

AGEING ANALYSIS OF BALANCES OF

SUPPLIER AS ON .
DATE :
VLL
PAGE :
SUPPLIER
CODE
NAME

DOCUMENT
NO.
DATE

P.O. NO.

0-15
DAYES

SUPPLIER TOTAL
PREPATED BY

15-30
DAYES

AMOUNT
30-45
DAYES

>45
DAYS

TOTAL

SUPLIER SUBLEDGER - BILLWISE

OUTSANDINGS
VLL

DATE :

SUPPLIER CODE :
DOCUMENT
TYPE
NO.

PREPARED BY

PAGE :
SUPPLIER NAME :
DATE

LINK REF.NO.

DATE

PARTICULARS

AMOUNT

SUPPLIER TRIAL BALANCE

AS ON ..
VLL
SUPPLIER
CODE

SUPPLIER
NAME

TOTALS

PREPARED BY

DEBIT

DATE :
CREDIT

BILLS WITHOUT GRINS

DATE :
VLL
P.O.NO.

BILL NO.

PREPARED BY

DATE

SUPPLIER
CODE

PAGE :
SUPPLIER
AMOUNT
NAME

GRINS WITHOUT BILLS

FOR THE MONTH

REPORT DATE :
P.O.NO.

GRIN & NO.

PREPARED BY

DATE

SUPPLIER CODE & NAME

GRIN VALUE

6.

SALES TAX ACCOUNTING

OBJECTIVES
6.1

The objective of the Sales Tax funciton is :

(a)

To ensure that all legal requirements under the Sales Tax

legislations are complied with

(b)

Timely filing of sales tax returnswith relevant authorities

(c)

Maintenance of documents/ registers prescribed under the

Sales Tax laws.

The procedures with respect ot the Sales Tax function have been dealt
with in the following areas :
(a)

Preliminary

(b)

Identification of monthly sales tax liability (Central Sales Tax,

Local Sales Tax eg :- A.P. Tax etc ), and preparing and
filing monthly monthly returns.

(c)

Accounting treatment for Sales Tax liability and sales tax on

return of finished goods.

(d)

Monitoring obtaining of C forms, H forms, wherever

applicable.

(e)

Sales tax prcedures in case of movement of goods to

goddowns for sale and relevant documentation.

(f)

Procedures for sales tax assessment and Claims.

6.2

POLICIES
(1)

Collection of concession form on sale regularly.

(2)

To charge the customer for the difference in Sale Tax due to

non-submission of concession forms within a reasonable
period.

(3)

Effective recording of Sales Tax deferral availed.

RESPOSIBILITY

SL.NO.

ACTIVITY

FREQUENCY

Finance Dept.
(Work)

1.

Obtain Sales Tax Registrations

separately for CST and APGST
for XYZ for dealing in products
specified in the application form.

One-time

Finance Dept.

2.

3.

File Certificate obtained from the

relevant authorities (Sales tax
commissioners office in the
relevant city) in a permanent
Sales Tax File created for the
purpose.

One-time

Ensumer that any changes in

the following factors is
communicated to the Sales Tax
authorities within 30 days of
occurrence.
(a) Chang in status of company
(b) Change in products for
which registration is
obtained.

As and when
changes in
registration
number occurs.

(c) Change in place of Business

(d) New strorage godowns or
manufacturing units.
Officer-Sales Tax

4.

Receive the following outputs

from the Marketing Accounts
(a) Invoice-wise listing of sales
-Local
-Export
(b) Sales Tax code wise sales
summary
- Local (CST, Concessional
sales, Local sales etc.)

Monthly

-Export
(c) Consolidated summary of
Total Sales Tax payable to
be incorporated in the
Sales Tax Returns.

5.

6.

Prepare Sales Tax Return

(separately for CST & Local
Sales Tax) to be filed with the
Relevant Authorities before the
lapse of the prescribed time
frame.
Before submitting (10 th fo the
succeeding month) the return
ensure that the liability for sales
tax has been created under the
respective heads of account ie.,
Central Sales Tax payable Local
Sales Tax payable.

SL.NO.

RESPONSIBILITY

PROCEDURE

1.

Accounts
Assistant

Generate the following statements :

(a) Monthly Invoice-wise Sale Listing
(b) Sales Tax Code wise Invoice
listing
(c) Sales Returns / Rejections listing
(d) Credit Notes Listing
(e) Debit Notes Listing

2.

Ensure that all Invoices have a sales

tax cose (CST, Local Sales Tax, C
form Sales, Nil sales tax sales).

3.

Forward the Sales Tax Code wise

Sales Summary to the Accounts
Officer to enable filing returns.

4.

Office Sales Tax

FREQUENCY

Monthly

Before filing the returns ensure

(a) That the concessional Sales Tax

C forms or H forms have been
obtained from the dealers
Officer

(b) Ensure that all the credit Notes

claimed as ductions in the returns
are dated within 6 months from the
date of invoice and copies are filed
in serial order and tally with the
figure mentioned in the return.

Monthly

(c) Ensure that all Debit Notes are

supported by evidences and the
figures mentioned in thereturn is
tallied with the total of the Debit
Notes.

(d) Arithmetical accuracy of the

figures mentioned in the return
and tallied with the Sales Inovice
Summry.

SL.NO.

RESPONSIBILITY

PROCEDURE

FREQUENCY

1.

Assistant
Sales Tax

Identify based on the initial list

of customers, amaster list of C
/ H form customers.

One-time

2.

Ensure periodically the

existence of such status with
existence of such status with
respect to these customers.

3.

Obtain information to be
updated in the master list

As and when
changes in
registration
number occurs
One-time

* Sales Tax [CST & Local

Sales Tax] Registration
Numbers.
4.

Follow up with the C / H form

dealers to obtain C / H forms
on a invoice to invoice basis

As & when

5.

If default has been made by the

dealer in issue of C / H forms
for two consecutive occasions
in a month, intimate Marketing
department to stop further
despatches at concessional
rates.

6.

7.

At the end of each month, tie

up the C / H forms received
dealer-wise with the invoices
raised dealer-wise.

Monthly

If any difference arises,

intimate marketing accounts to
reach invoices raised.

SL.NO.

RESPOSIBILITY

PROCEDURE

FREQUENCY

1.

G.M. (Finance)

Ensure that all the relevant

supporting evidences are filed in
serial order to be submitted
during assessment

As & when

(a)
(b)
(c)
(d)
(e)

Invoices
C Forms
H Forms
Crdit Notes
Debit Notes

2.

G.M. (Finance)

Assist in the Assessment

procedure conducted by the
Authorities by summarising all
relevant additional information
asked for

3.

G.M. (Finance)

Based on the Asessment orders,

if it is decided to go on appeal,
prepare the appeal forms along
with the justification for the same
and supporting evidences.

QUARTERLY RETURN :
4.

ManagerAccounts

Though practices differ between

states, Quarterly Returns are
required to be filed consolidating
the individual monthly returns

Quarterly

5.

Assistant

To ensure this, filing of the

monthly returns along with
relevant evidences is essential.
This has to be ensured by the
concerned assistant

6.

If differences arises between the

figures mentioned in the quartely
and monthly returns, these have
to be reconciled in order to
ensure that the quarterly return
are perfected and have all
relevant supporting documents.

As & when

FORM A1
Return of Annual Turnover
To the Deputy / Commerical Tax Officer,

I,.. Son / Daughter / Wife of

on behalf of the dealrer carrying business known as . (Dealer
name / Firm Name) furnish herewith the statement of the Total and net and
turnover for the said business durig the year commencing from .
And ending on.. and give the following connected
particulars.
MHST
1.

CST

Registration Certificate Number ..

2.
Address of prinicpal place of business
..
3.

Particulars of payment :
(a) Total tax payable ..

(d) Total tax paid

(i) Cheque / .
DD Particulars

(b) Deduct
(i) Adjustment
Of refund of tax.

Number
.

(c) Notice No.Date

Bank
Branch

(ii) Amount of rebate ..

of tax as per
From F/FI as enclosed
To this Form .

Receipt No.
.

(c) Net tax payable

(a) (b)

Date
.

Date

(iii) Challan Particulars

..
Number
Date
.

Name of Treasury ..
(e) Balance payable if any
(c) (d)

STATEMENT OF COMMODITY-WISE TAX AND TURNOVER DETAILS

NO. OF COMMODITIES FOR WHICH PARTICUALRS ARE GIVEN :
Commodity EstiDescription mated
total
Code
turnover
(1)

(2)

Estimated
Turnover is
Claimed
(3)

EstiRate
mated Of
Turn- Tax
over
(4)

Estimated
Tax

(5)

(6)

Additional
Tax

(7)

Surcharge

(8)

Total
(7+8+
9)

(9)

Total :
Note :- In case the same commodity is taxable at different rates, by virtue of
specific orders, please mention the commodity separately for each rate of tax.

Signature of the Dealer.

Declaration
I/ We .. Son / Daughter / Wife of my / Our knowledge
and belief, the information furnished in the above statement is true and complete.
Place :
Date :

Signature :
Name (in block Letters) :
Status and relationship to the dealer.

Original
THE CENTRAL SALES TAX
(Registration and Turnover ) Rules, 1957
FROM F
(Form of declaration to be issued by the transferee)
Serial No.
Name of the issuing State.
Office of issue.
Date of issue .. ..
Name and addres of the person to whom issued along with his Registration
Certificate NO..
Date from which registration is valid
SEAL
of issuing
authority

To

.(Transferor)
.
Registration Certificate NO. of the Transferor
Certified that the goods tranferred to me/us per details below have been received
and duly accounted for.
Description of the goods sent ..
Quantity or weight .
Value of the goods .. .
Number and date of invoice
Or challan or any other
Document under which

The goods wer sent

(i)

Name Railway, Steamer or Ferry

Station or Air Port or Post Office
Or Road Transport Companys
Office from where the goods were
Despatched .

(ii)

No. and date of Railway receipt

Or Postal Receipt or Goods
Receipt with trip sheet of lorry
Or any other document idicating
means of transport

(iii)

Date on which delivery was

Taken by the transferee

The above statements are true to the best of my knowledge and belief.

(Signature )
(Name of the person signing the declaration).
*(Status of the person signing the declaration
in relation to the transferee)
*(Status of the person signing the declaration
in relation to the transferor)

Date
*
(Note :-

Strike out whichever is not applicable.

To be furnished to the assessing authority in accordance with the
rules framed under section 13 (4) (3).]

7.
7.1

EXCISE ACCOUNTING

OBJECTIVES

1.

Conformance with statutory regulations viz., Excise Duty Act.

2.

Exports claims on Excise duty rebate to be made regularly

3.

Efficient administration of Modvat & PLA.

7.2

POLICIES

1.

Excise records, filing of monthly return and other statutory

obligations will be met from factory.

2.

Accounting for excise will be centrally done at the corporate office.

3.

Excise duty rebate shall be accounted as Income at the time of

receipts.

7.3

OVERVIEW OF EXCISE ACCOUNTING

An overview of Excise Accounting is depicted in Exhibit . 7.1.

RESPONSIBILITY

SL.NO.

ACTIVITY

FREQUENCY

Accounts Officer

1.

Avail Modvat credit for

purchase of capital goods
under Rule 57Q. Debit
Modvat Receivable account
for the amount of excise duty
incurred.

As & when

2.

Avail Modvat credit for

purcahses of inputs in use or
in relation to the manufacture
of final products under Rule
57A.

3.

Deposit money in personal

ledger account for preferring
a Bank payment voucher and
debit PLA in general ledger.
The cheque will be prepared
based on Excise dept.
requisition.

4.

The following entries to be

made as per the activity :

(i)

At the time of modvat

credit on purchase of
capital goods :
Dr. Asset
Dr. RG 23 A/c
Cr.Party.

(ii)

At the time of modvat

credit on duty paid
inputs
Dr.Materials
Dr.RG 23 A/c
Cr.Party

(iii)

Excise duty on sale :

Dr.Pary
Dr.Sale
Cr. Excise duty
recovrable A/c

RESPONSIBILITY

SL.NO.

ACTIVITY
(iv)

Deposit of money in
PLA:
Dr. PLA A/c
Cr. Bank

(v)

Adjustment of Excise
duty recoverable a/c :
Dr. Excise duty
Recoverable A/c
Dr.RG 23
Cr. PLA A/c.

5.

Reconciliation General
Ledger balances with excise
records.

6.

Receipt of claim from

Government.

REPORTS - SUMMARY
1.

Modvat credit availed on inputs

2.

Modvat credit availed on capital goods

3.

Rebate of claims, made during the month

4.

Cloaims money received during the month

FREQUENCY

Monthly

EXCISE PROCEDURES
Excise procedures in relation to
1.

Procedure to be observed by Manufacturer Rule 57G

Take crdit of duty paid on inputs U/R 57 A
(a)

File a declaration, indicating the description of final products

manufactured in his factory and the inputs intended to be
used in each of the said final products.

(b)

Credit to be taken on inputs received in the factory under the

cover of an invoice or triplicate copy of Bill of Entry or any
other document as may be prescribed by the Central Govt.

(c)

A manufacturer of the final products shall maintain

NOTE :

(i)

an account in form RG 23A Parts I & II

(ii)

In respect of duty payable on final products, a current

account (PLA) current with adequate balance to cover
the duty of excise payable onth final products cleared
at any time.

RG 23A , PART I Stock Account of Inputs for use in or in

relation to the manufacture of final products
PART II Entry book of duty credit.

2.

Accounting Procedures for the persons issuing invoices under rule

57G
(a)

Shall get registered under ruel 174

(Registration with Excise Authority)

(b)

Maintain a stock accoun in the form RG 23 D

(c)

Invoice shall cintain the details as prescribed by CBEC

(Central Board of Excise and Customs)

(d)

Inovice shall be made out in quadraplicate

3.

4.

Orignial

Buyer

Duplicate

Transporter

Triplicate

Central Excise

Quadruplicate

Company

( XYZ )

(e)

Each invoice shall bear a printed serial number.

(f)

Each invoice shall be authenticated by the owner or the

working partners or the Managing Director or the Company
Secretary or an officer of the company who is authorised by
the Board of Director.

Procedures to be observed to take credit of duty paid on capital

goods used by the manufacture rule 57 Q. :
(a)

File a declaration with the Assistant Collector of Central

Excise having jurisdiction over his factory, indicating the
particulars of the capital goods, description of the final
product manufactured in the facotry.

(b)

Shall maintain an accout in form RG23C, Part I and II

(c)

The original documents evidencing the payment of duty

along with extracts of Part I & II of form RG23C, every
month.

Procedure export Under claim of rebate under Excise Ruel 12 (1)

4.1

Self removal procdedure The exporter are being allowed to take

clearances for export without the presence and examination of
cargo by the Central Excise Officer.

4.2

4.3

From AR4 is required to be filed by exporters in all the situations,

Viz.,
(a)

Export clearances on their own without examination by the

Central Excise Office

(b)

Export clearnces under Central Excise Seal whether under

claim for rebate or under bond.

Documents to be filed for claiming rebate.

Following documents to be filed for claiming rebate :
(a)

Application in prescribed form, annexure

(b)

Original copy of AR4

(c)

Duplicate copy of AR4 in sealed cover from Customs Officer

(Optional)

(d)

Duly attested copy of shipping Bill

(e)

Duly attested copy of Bill of Lading

(f)

Disclaimer certificate (in case whether claim out is other than

Exporter).

4.4

Each exporter shall give a running serial starting from 1 for each
calendar Year to every AR4 filed.

4.5

Form AR4 would be prepared in sixtupliate for removal of goods

under claim of rebate from a factory or warehouse without
examination by the Central Excise officers. The distribution of
copies of AR4,
Original & duplicate

Exporter for presenting to

customs oficial

3rd Copy

To the rebate sanctioning

authority

4th Copy

To the Chief Accounts Officer at

his / Collectorate Head

5th Copy

To be retained for recods.

APPLICATION FOR REGISTRATION FOR ISSUANCE OF INVOICES UNDER

RULE 57G
To
The Superintendent of Central Excise

Sir
I/We _______________________________ Son/Daughter(s) of _______
Residing at _____________ hereby request that I/We _____________ may be
issued a registration certificate under Rule 174 for the purpose indicated in the
schedule. Other detals required are aslo furnished in the schedule.
2.

I/We ___________________ agree to abide by all the provisions of

Central Excise Rules, 1944 and any orders issued thereunder.

3.

I/We ___________________ declare that to the best of a my/our

knowledge and belief the information furnished herein is true and
complete.

Place :
Date :

Signature of the applicatnt

(Signatures)

tear here_____________________________________
ACKNOWLEDGEMENT
Received an application for Registration from Ms., Mr., Smt.,
_________________ Son/Daughter of ______________ for registration under
Rule 174.
Date:

Signature and Stamp of Range

Superintendent receiving the application.

9.

CONDIFICATION SCHEME

CODIFICATION SCHEME
9.1

The coding structure has been designed to get the maximum

advantages from future computerisation. These codes have been
segregated into primary and secondary codes :

PRIMARY CODES
9.02

(1)

General Ledger Account Codes

(2)

Sub-ledger Account Codes

(3)

Fixed Asset Codes

SECONDARY CODES
9.03

(1)

Document type codes

(2)

Sales Tax codes

The various primary codes and their structure is explained below :

1.

General Ledger Account Codes :

X

XXX

XX

6 digit numeric

Account Nature Code

Group Code
Running Serial No.

(a)

2.

Nature of Account :
1

Long term Liabilities

Fixed Assets

Income

Expenses

Others

Current Assets

Current Liablilities

Other Current Assets

Sub ledger Account Codes :

The sub-ledger codes are for suppliers, contractors, Transporters, Debtors

etc.
X

XXX

5 digits alpha numeric

Alphabet representing initials of
Supplier/customer 1 alpha
Running serila No. - 4 digits

3.

Fixed Asset Codes :

X

XXX

XX

7 digit numeric

Asset Group 2 digits

Asset, sub-classification
2 digits
Serial number 3 digits.
SECONDARY CODES
1.

Document Type Codes

XXX
3 digits alphabetic
Related document types :
(a)

Cash payment Voucher

CPV

(b)

Bank Payment Voucher

BPV

(c)

Cash Receipt Voucher

CRV

(d)

Bank Receipt Vouvher

BRV

(e)

General Journal Voucher

GJV

(f)

Purchase Journal Voucher

PJV

(g)

Invoice

INV

(h)

Petty Cash Payment Voucher

PCV

2.

Sales Tax Codes

XX
2 digits

Code

Description

CST

02 to 05

MST

06 to 09

APGST

10 to 13

TNGST

14 to 17

KST

18 to 20

WBST

21 to 23

UPST

24 to 50

Others