on 2008 May 23 5:53 AM
why chapter-id is required for excise, when we procuring material from vendor using CIN.
ans
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Chapter ID is a Master data of CIN as per government's rules and regulation.
Various types of material are falling under various chapter ID categories as per list provided by the government.
In the chapter ID we can maintain whether particular material and plants are excisable or not.
Reward if helpful
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hi
Chapter Id is a standard nomenclature which was decided by world custom's organisation.
It is 8 digit character,
where first 4 digit is heading , then 2 digit are sub heading and the last 2 digit is for product.
this is done so that it is easy to decide the percentage of tax.
so chapter id is legal requirement.
Regards,
Vijay
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Hi,
Chapter ID's are given by the government categorizing various materials having different tax slabs.
Like all food supplements have 12 % tax and general medicines have 4 % tax.
Every year we need to update the condition records with latest chapter id published by the government as the taxes might change.
The t.code is J1ID.
Hope it helps. Please reward if useful.
Thanks & Regards
Archit
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