Understanding the Payment of Interest for Excise Duty
You use the Amount of Interest Paid/Month (RG-1) program (P75I382) to create an entry for the payment of interest on excise duty. You must pay this interest if you exceed the due date for the payment of excise duty for the respective month. You must enter details such as the excise unit, the year and month, and the amount of interest paid to create a voucher number for the payment of interest.
After you create a voucher for the interest payment, you must post the voucher to the general ledger. You cannot update a record that has been posted to the general ledger. However, you can update the records for which the vouchers have been deleted or made obsolete. These records display in a different color on the Work with Amount of Interest paid per Month form.
The system displays the records for which the payments have been made in a different color. You must update the PLA register for these records. When you click PLA Update, the system updates the Excise - PLA Chapter Wise Transaction File for Yarn Industry (F75I315Y) and Excise - MODVAT / PLA Summary File YARN SPECIFIC (F75I310Y) tables. For secondary higher education cess, the system updates the Amount of Interest Paid per month - IND - 00 table (F75I382) and F75I310Y - Tag File table (F75I311).