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 .
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 .
2. Select the items that have the specified HSN Code.
3. Click S : Set Rate , and select the GST Classification.
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.