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Creating, Using, and Updating GST Classifications in Tally.ERP9 based on HSN/SAC Code to record Tax Rate and GST Details for a Service

You can create a GST Classification in order to record the tax rate and other details for a category of goods attracting a specific GST rate. For example, creating GST Classifications based on HSN. When this classification is used in relevant masters and transactions, the tax details of the goods or services will be automatically captured. In case the department changes, the tax rate for any HSN in future, alter the GST Classification and assign the new rate.

You can create GST Classifications for an accounts-only company as well. Depending on the grouping used for GST Classifications, you can tag those to Sales, Purchase, Services, Income and Expense ledgers.

To create a GST classification, under F11: Features > Statutory and Taxation , enable the options Enable Goods and Services Tax (GST)? and Set/alter GST details? . In the GST Details screen, set the option Enable GST classification? to Yes .

GST Classifications in Tally.ERP9 based on HSN/SAC Code
(Fig-6)

 

1. To create a GST classification based on HSN code in Tally.ERP9

1.  Go to Gateway of Tally > Accounts Info. > Statutory Info. > GST Classifications > Create .

GST Classifications in Tally.ERP9 based on HSN/SAC Code
(Fig-7)

2.  Select the Nature of Transaction ,  if required.

Note : The nature of transaction is identified based on Registration Type, State and Country of the party. Therefore, there is no specific requirement to select nature of transaction. You need to change the nature of transaction in case of branch transfers, consignment transfers, works contract, and so on, accordingly.

3.  Enter the rates applicable for Integrated Tax , and Cess , if any. The rate entered for integrated tax will be equally divided between central tax and state tax. You can specify further GST details for the GST classification by clicking F12: Configure .

(A) To use a GST classification for setting GST details in Tally.ERP9

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

GST Classifications in Tally.ERP9 based on HSN/SAC Code
(Fig-8)

2.  Select the items that have the specified HSN Code.

3.  Click : Set Rate , and select the GST Classification.

GST Classifications in Tally.ERP9 based on HSN/SAC Code
(Fig-9)

Notice that tax details disappear from the GST Details screen as the details are taken from the GST Classification.

Create different classifications for items falling under other HSNs, and assign the classification to the required items.

(B) To Alter a GST classification in Tally.ERP9

1.  Go to Gateway of Tally > Accounts Info. > Statutory Info. > GST Classifications > Alter .

2.  Specify the new rate, press Enter twice, provide the revised applicability from date, and save.

GST Classifications in Tally.ERP9 based on HSN/SAC Code
(Fig-10)

2. To create a GST classification based on SAC (Service Accounting Codes) in Tally.ERP9

1.  Go to Gateway of Tally > Accounts Info. > Statutory Info. > GST Classifications > Create .

GST Classifications in Tally.ERP9 based on HSN/SAC Code
(Fig-11)

2.  Provide the details as required.

(A) To use a GST classification for setting GST details for a service in Tally.ERP9

1.  Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

GST Classifications in Tally.ERP9 based on HSN/SAC Code
(Fig-12)

2.  Enable Set/alter GST Details? .

3.  In the GST Rate Details screen, select the GST Classification created for Annual Maintenance Contract.

4.  In Type of Supply , select Services .

Create different classifications for services falling under other SACs, and assign the classification to the required services.

3. To Create a GST classification for Cess based on Quantity or Value in Tally.ERP9

1. Go to Gateway of Tally > Accounts Info. > Statutory Info. > GST Classifications > Create .

2. Enter the percentage of Integrated Tax . The Central Tax and State Tax rates are displayed.

3. For Cess , the cursor moves to the Rate column. Press Backspace to select the Valuation Type as Based on Value and Quantity . Enter the cess Rate and cess rate per unit.

GST Classifications in Tally.ERP9 based on HSN/SAC Code
(Fig-13)

Note: You can also select the Valuation Type of cess as Based on Value and Quantity in the GST Rate Details screen of Tax Rate History .

4. Accept the GST Classification Creation screen.

Setting Up GST Rates in TallyERP9 using 'GST Rate Setup' option under 'Statutory Report' GST Using Tally.ERP9 Creating and Updating Stock Items and Stock Groups with GST Rates in Tally.ERP9


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