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Quickly set up GST rates for your stock items, using the GST Rate Setup option. Based on the rates defined, the tax amount is auto calculated in the purchase invoice. These rates will not be considered for calculating the tax on sales.
You must enable GST in your company to provide the GST rates. You can also set the GST rates for a particular price range or slab rate for multiple stock items. Alternatively, you can define tax rate for each stock item from the stock item master.
Set GST rates for stock items
1. Go to Gateway of Tally > Display > Statutory Reports > GST > GST Rate Setup .
You can also navigate from Gateway of Tally > Inventory Info. > Tax Rate Setup > GST .
2. Select the stock item, and press Alt+S to provide the applicable tax rates. You can press Spacebar to select multiple stock items. Set the tax rates and save.
o To view the history of tax rate changes, press Alt+L .
o To specify further GST-related details, click F12: Configure .
In order to remove a tax rate, use the option Ctrl+C . You can clear rate of multiple items by selecting them using Spacebar .