This article describes how to manage the Goods & Service Tax Rate (GST) Master.
How To: Add a new GST rate in the Goods & Service Tax Rate Master
Pre-requisites
- The users' role must have access to the Add app operation in the GST Rate feature in Inventory - Product Definition - Tax Definition through Roles in Ginesys Web - Admin - Security.
- You must know the Integrated GST (IGST) Rate, Central GST (CGST) Rate, State / Union Territories (SGST / UTGST) Rate and Compensation Cess Rate as decided by the Government.
Step-by-step guide
The steps are as follows:
- Go to Ginesys Web - Inventory - Product Definition - Tax Definition - GST Rate. This will open the Goods & Service Tax Rate Master module.
- Click on the Add button. This opens the Add Conversion Type window.
In the General section, provide a name for the new tax in the Tax Name field. Also, enter remarks in the Remarks field.
The Tax Name field is a mandatory field.
- In the Tax Rate Details section, fill in all the fields. They are:
Integrated GST (IGST) Rate
This is the summation of Central GST (CGST) Rate and State / Union Territories (SGST / UTGST) Rate.
- Central GST (CGST) Rate
- State / Union Territories (SGST / UTGST) Rate
- Compensation Cess Rate
- Click on the Save button.
- Record saved successfully. - message will be displayed on the screen.
- Click on the Close button to close the window. A confirmation window appears with the message - Discard changes? If you want to go back to the Goods & Service Tax Rate Master module, then click Yes, otherwise click No.
How To: Edit a GST Rate in the Goods & Service Tax Rate Master
Pre-requisites
- The users' role must have access to the Modify app operation in the GST Rate feature in Inventory - Product Definition - Tax Definition through Roles in Ginesys Web - Admin - Security.
Step-by-step guide
The steps are as follows:
- Go to Ginesys Web - Inventory - Product Definition - Tax Definition - GST Rate. This will open the Goods & Service Tax Rate Master module.
Double click on the record or click on the Edit option (from the Actions menu). This opens the Edit Conversion Type window.
All fields are editable but it should be kept in mind that Integrated GST (IGST) Rate, Central GST (CGST) Rate and State / Union Territories (SGST / UTGST) Rate are related. In order to change one, you must manipulate the others.
Example
Before modification: Integrated GST (IGST) Rate is 12%, Central GST (CGST) Rate is 6% and State / Union Territories (SGST / UTGST) Rate is 6%.
Now, to change Integrated GST (IGST) Rate, you have to change both Central GST (CGST) Rate and State / Union Territories (SGST / UTGST) Rate. Only then will the system allow you to modify the Integrated GST (IGST) Rate.
- Click on the Save button.
- Record saved successfully. - message will be displayed on the screen.
To go back to the main page click on How To: Define Taxes in Inventory
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