Prepare your background. For example, I use a free wood texture background from Google.
Create your text with Text Tool (F8). With the text is selected, copy it with shorcut Ctrl+C.
Create a rectangle with Rectangle Tool (F6) to cover the text.
Select the text and the rectangle. Then click icon Front minus back (shaping tool).
Coloring it to black for shadow color. This is base shadow object.
NB: Another way to make the shadow is with Drop Shadow tool.
With the object is selected, go to Bitmaps -> Convert to Bitmap.
Convert To Bitmap windows will appear. Let the default option. Make sure the Transparent background option is checked, then click OK.
With the object selected, go to Bitmaps -> Blur -> Gaussian Blur.
Gaussian Blur windows will appear. Change the Radius value to taste. On this tutorial, with the size of the text here, I use Radius = 6.0 Pixels. Then click OK.
Result for base shadow object.
Paste the copied text on Step 2 with Ctrl+V. I change the color of text to Grey for clear look.
Move the text object for few pixel. For example I move the text object 3 pixels to right and 3 pixels up (for light shadows from right-top side).
Select text object first, then shadow object. Click the Intersect icon. Now have the inner shadow object in back of the grey text object.
Delete the base shadow object.
Change the grey text object color to taste. I change it to black. This is inner base object.
NB: Use dark color for the inner carved. The result with another color in bottom.
Use Transparency Tool. Click the Uniform Transparency mode. Then change the transparency value to taste. For example, Transparency value = 75.
Right click the inner base object. Then go to Order -> Back One. Or use shortcut Ctrl+PgDn.
Another result with color variations on Step 14.
Dark Red, Dark Green, Dark Purple, Dark Blue, Orange.
Hope this tutorial usefull.
Apologize for bad explanation, for bad English, and everything on this tutorial.
Thanks for visiting.