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How to update GST Rate appl. from 01.01.2022

Owned by
Aparajita Basu Roy
Sept 15, 2022
3 min read

Important

In case the ‘Effective From’ date is further extended, then we need update the HSN master again (Manually from user interface as excel import does not support date modification), by modifying the Effective Date to some future date.

On the recommendations of the GST Council, the Central Board of Indirect Taxes and Customs (CBIC) announced that the GST rate on garments, textiles, and footwear would be raised from 5% to 12% with effect from January 1, 2022 as below

Apparel/Fabric/Textiles 

 

Existing

New

Below 1000 Price

5%

12%

Above 1000 Price

12%

12%

 *Slab will not be applicable any more  in Apparels 

Footwear 

 

Existing

New

Below 1000 Price

5%

12%

Above 1000 Price

18%

18%

 

 

Incorporating HSN Master GST Rate Changes 

For apparel: Since one tax rate exists, i.e., 12% irrespective of the price, you can use our import excel using where you can provide HSN number, effective date & GST rate to update the HSN masters. While importing the data map the effective date as 01-Jan-22.

Template of excel Import is given above

Template of excel Import is given above

Note:

  • HSN_SAC_CODE is to be match with the HSN_SAC Code as defined in HSN/SAC  Master

  • GST_RATE_NAME should match with Tax Name defined in GST Rate Master

For footwear: Since slab still exists, i.e., 12% up to 1000, 18% beyond 1000, you will have to define a new slab manually in the HSN master with a new effective date.

Ref Module: 

  • Admin - Utilities - Data Import - HSN/SAC Code - GST Rates

  • Inventory - Product Definition - Tax Definition - HSN/SAC Master

  • Inventory - Product Definition - Tax Definition - GST RATE 

After the update in the masters are done, it should typically look as below:

Apparel

Footwear - Master

Footwear - Slab Definition

Please note that the slab once saved or uploaded cannot be modified, thus utmost care should be taken while defining the same in the system. After successful update, data will automatically SYNC to POS locations.



Incorporating Price List changes for S&D operations

The Pricelist  related changes will get impacted for only those Customers who have defined their margins defined NET OF GST / INCLUSIVE OF GST. 

There are 2 ways to incorporate the changes -

  • Either by creating a new Price List and Tagging it with the Customer/Site Master as applicable

  • Update the existing Price List Master so that the retagging is not required.

 

 

In either of the process one can do the changes manually or upload the same via excel import

Please note that while defining the Price List the following  points needs to be taken into consideration :

  • Price list has two areas where margin can be specified, both the same should be taken care :

    • Generic at price list level

    • Exceptions at the assortment/item level



Price List tagged is done at various levels, so all should be taken care in case of new Price List - 

  • Customer Level

  • Customer Site Level (For Unmanaged Site)

  • Customer Site and Organization Level (For Managed Site)

  • Customer - Organization Site - Customer Site level in case of Un-Managed Site

Ref Module: 

  • Sales & Distribution - Setup - Customer - Price List

  • Admin - Utilities - Data Import - Price List - Sales

  • Admin - Utilities - Data Import - Price List - Exception Details

  • Sales & Distribution - Setup - Customer - Customer

  • Sales & Distribution - Setup - Customer - Unmanaged Site

  • Sales & Distribution - Setup - Customer - Assigned Organization Site

  • Retail Management - Setup - Manage - Site

 

For more queries follow this article - https://ginesys.atlassian.net/wiki/spaces/PUB/pages/3581542418

 

For more information visit this - https://youtu.be/6zqhfcZEAE4

 

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