How to - 50 % Cenvat on Capital Goods
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Pensol Industries Ltd
User Manual50 % Cenvat on Capital Goods
Author : Satish Doke
Reviewer: -
Approver
Release Date : - 16 May 2013
Plot No. 92, Road No. 16,M.I.D.C., Marol, Andheri (Mumbai - 400093, India.Voice: +91-22-6722 0606Facsimile: +91-22-6722 0
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50 % Cenvat on Capital Goods
Authorization
VerPrepared By Reviewed By Approved By
Name DateName
DateN D
1.0 Satish Doke 16-05-2013
Change History
Ver Section Date Change Information
1.0 All Original Document
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Table of Content
Sr. No Particulars Page No
1 Introduction 5
2 Basic Setup 6
3 Master Setup 7
4 Transaction 11
4A Goods Receipt PO 11
4B Incoming Excise Invoice 13
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Abbreviations used in the document
Sr.No Abbreviation Full Form
1 AGT A G Technologies Pvt Ltd
2 Pensol Pensol Industries Ltd
3 SAP SAP Business One
4 GRPO Goods Receipt PO
5 IEI Incoming Excise Invoice
6 50 % Cenvat 50 % Cenvat on Capital Goods
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50 % Cenvat on Capital Goods
Purpose of This Document
This document is intended to inform Pensol about the necessary steps that should be taken to provide the
desired 50 % cenvat on capital goods in current year and 50 % next year process in SAP.
This document provides general hints, tips, and recommendations concerning the use of 50 % Cenvatprocess and SAP Business One.
50 % Cenvat functionality depends not only on functionality, but also on correct setup and usage.The content of this document is subject to change since both functionality of 50 % Cenvat process andSAP Business One may change in the future.
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Basic Setup / Prerequisite
In G/L Account determination master, needs to set the capital Goods On Hold Percentage and
Capital Goods On Hold Percentage account.
Path: - Administrator Setup Financial G/L Account Determination
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Master Setup
Skillful use of master data is essential to getting the most out of the SAP Business Oneapplication and 50% Cenvat on Capital Goods Process. Data describing Item Master, Business
Partners (Vendor), Item Group etc are master data. When a new document (GRPO and Incoming
Excise Invoice), is created, master data provides and set much of the necessary information in
the transaction. Master data also keeps track of predefined values and settings that are used inGoods Receipt and Incoming Excise Invoice.
Proper setup and management of master data allow everyone to use of 50% Cenvat on CapitalGoods process in SAP to maximum efficiency. If master data is set up accurately, creating a
document such as a GRPO and Incoming Excise becomes a lot easier. You only have to confirm
that the default information is correct.
However, if master data is not accurate, business processes come to a halt while people figure
out how to enter the correct information. This User Manual offers guidance to help youunderstand, set up, and use of master data properly so that you and your company get the full
benefit of 50% Cenvat On Capital Goods process in SAP.
Basic Setup / Prerequisite required for handling the 50 % Cenvat on Capital Goods Process inSAP.
For 50 % Cenvat on Capital Goods Process following master needs to be created / updated.
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50 % Cenvat on Capital Goods
1. Item Master
2. Business Partner Master (Vendor3. G/L Account Determination
4. Item Master: - Create item group as Capital Goods and assign to the item master. It is notmandatory to create Capital Goods as item group, it is depend on customer need &
requirement.
Select following option in Item master.
1. Fixed Asset option on right top of the item master.
2. Select item as excisable3. Select material type as capital goods.
Item Master
2. Vendor Master: - In Vendor master, select the Asset account from the existing.
Path: Business Partner Business Partner Master Data (Accounting Data Tab)
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50 % Cenvat on Capital Goods
Transactions
50 % On Cenvat on Capital Goods will be route through GRPO and Incoming Excise Invoice
transaction. This function allows you to set the 50% Cenvat for current financial year and 50%for next financial year. When GRPO and Incoming Excise entry is added with this function, it isrecorded directly to the database and cannot be deleted. To cancel an GRPO and Incoming
Excise Invoice, create a reversal of GRPO i.e. Goods Return and Outgoing Excise Invoice.
Following is the path for opening Goods Receipt PO transaction screen.
Goods Receipt PO
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Purchasing A/P Goods Receipt PO Inventory Transfer
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Incoming Excise Invoice: Create Incoming Excise Invoice based on Goods Receipt PO
Journal Entry
In this entry system automatically post the 50 % amount to the Cenvat on Capital Goods on Hold
A/C based on setting done in the G/L Account Determination.
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A/P Invoice: - Create A/P Invoice based on Goods Receipt PO
Journal Entry
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