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Setting Up GST Rates in TallyERP9 using 'GST Rate Setup' option under 'Statutory Report'

Quickly set up GST rates for your company, stock item-wise or stock group-wise, using the GST Rate Setup option. You must enable GST in your company to provide GST rates. You can set up GST rates at the company level, stock group level, stock item level, account ledger group level, and ledger level. You can also set the GST rates for a particular price range/slab for multiple stock items.

1. Set GST Rates for Stock Groups and Stock Items in Tally.ERP9

1.  Go to Gateway of Tally > Display > Statutory Reports > GST > GST Rate Setup .

Set GST Rates for Stock Groups and Stock Items in Tally.ERP9
(Fig-1)

Note: Brackets indicate that tax rates are captured from the company or stock group level.

2.  Select the stock group or stock item, and press Alt+S to provide the applicable tax rates. You can press Spacebar to select multiple stock groups or stock items. Set the tax rates and save.

Set GST Rates for Stock Groups and Stock Items in Tally.ERP9
(Fig-2)

  • The rate entered for integrated tax will be equally divided between central tax and state tax.

  • To view the history of tax rate changes, press Alt + L .

  • To specify further GST-related details, click F12: Configure as below .

The F12 configuration options available at the stock item, stock group, and ledger levels, and the options enabled on setting them to Yes in the GST Details screen are shown below:

Set GST Rates for Stock Groups and Stock Items in Tally.ERP9
(Fig-2A)

Valuation Type : Default is Based on Value .

You can enable the F12 configuration options as required to enable relevant options and provide the required details.

In order to remove a tax rate, use the option Ctrl+C (Clear Rate). You can clear rate of multiple items or groups by selecting them using Spacebar . You can also clear rate from items under a group and automatically infer tax details recorded at group level to sub-groups and items using the option : Enforce Rate .

2. Update GST Rates for Stock Groups and Stock Items in Tally.ERP9

1.  Go to the alteration screen of the stock groups or stock items in which the details need to be updated.

2.  Enable the option Set/alter GST Details .

3.  In the GST Details screen, you can do any of the following:

  • Enter the new Integrated Tax rate.

  • Enter the Revised Applicability date in the Applicable from field, and save.

Set GST Rates for Stock Groups and Stock Items in Tally.ERP9
(Fig-3)

Or

  • Click : Tax Rate History .

  • Enter the Applicable Date for the new rate in another row > enable Set/Alter Tax Details .

Set GST Rates for Stock Groups and Stock Items in Tally.ERP9
(Fig-4)

  • Enter the new Integrated Tax rate, and save.


(Fig-5)

 
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