How to Set GST Rate in Tally?

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In the previous post we saw “How to activate GST in TallyPrime?”, now we will see “How to set GST Rate in TallyPrime?”. So Let’s start…

GST Rate Setup

In TallyPrime we can set GST rates at ledger level, ledger group level, stock group level, stock item level, and company level. In the previous post, we saw “How to create the stock group and stock items?“.


Set GST Rate for Stock Groups

To set GST Rate first, launch TallyPrime from the Gateway of TallyPrime click on “Display More Reports” >“StatutOry Reports”->” GST Reports”->” GST Rate Setup” and finally GST Rate setup screen will appear.

Via Shortcut From Gateway of TallyPrime press D->O->G->R

TallyPrime

After arriving at the GST Rate Setup screen, now we can set the rate. To set rate select the stock group and then press “Alt + S”.

Then “GST Details for Stock Group” screen will appear like this:

GST Rate Setup

In that provide the following details like:

HSN/SAC Details:

1. Description: Computer monitors not exceeding 32 inches, Set-top Box for Television (TV)

2. HSN/SAC: 8528

Tax Details: Select the option to “Taxable”

Tax Type Rate: Integrated Tax – 18% ( For e.g.)

The integrated tax will be equally divided between central tax and state tax.

Set tax rate and press “CTRL + A” to save it. Lets see…

GST Rate Setup

Set GST Rate for Stock Items

In one stock group, there are multiple items if we set the tax rate at the stock group level then that rate applicable to each stock item. There may be a possibility that some stock items may have different GST rates.

So let’s set a different GST rate for one of the stock items.

In the same way from the Gateway of TallyPrime press D->O->G->R. After arriving at the GST Rate Setup screen, now we can set the rate. To set the rate select the stock item and then press “Alt + S”, the GST Details for the stock item screen will appear.

In our case, we will change the GST rate of “Dell 24 Inch Full HD Monitor” from 18% to 12%. From the GST Details for the stock items enter the following details:

HSN/SAC Details:

1. Description: Computer monitors not exceeding 32 inches.

2. HSN/SAC: 8529

Tax Details: 1. Calculation type: On item Rate or On Value, 2. Taxability: Taxable

Tax Type Rate: Integrated Tax – 12% ( For e.g.)

The integrated tax will be equally divided between central tax and state tax.

Set tax rate and press “CTRL + A” to save it. Lets see…

Tally

Set GST Rate from the “Go To”

To set GST Rate from the “Go To” press “ALT + G” the Go To screen will appear in that screen search “SET” GST Rate Setup option will appear select that option and select the stock group or stock item and press “ALT +S” and set the rate. Let’s see..

GST Rate Setup Screen in Tally

In this way we can setup GST Rate for stock group or stock items in TallyPrime.

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