View GST Rate Setup for Masters in TallyPrime: 4 Easy Steps

Viewing the GST rate setup for masters in TallyPrime helps businesses verify the applied GST rates across stock items, stock groups, accounting groups, and ledgers.

This ensures that correct tax rates are applied while recording transactions, preventing compliance issues.

1. Why View GST Rate Setup for Masters in TallyPrime?

• To check if the correct GST rates are assigned to stock items, stock groups, and ledgers.
• To ensure proper GST calculation in invoices and returns.
• To identify any incorrect GST rate applications before filing returns.
• To maintain compliance with tax regulations.

2. Steps to View GST Rate Setup for Masters in TallyPrime

TallyPrime allows you to view GST rate setups at different levels:

1. Stock Items
2. Stock Groups
3. Accounting Groups
4. Sales and Purchase Ledgers

A. View GST Rate Setup for Stock Items

1. Go to Gateway of Tally > Alter > Stock Item.
2. Select the stock item for which you want to view the GST setup.
3. Scroll down to the GST Details section.
4. Check:
   • HSN Code
   • GST Rate (CGST + SGST or IGST for interstate sales)
   • Taxability (Taxable, Exempt, or Nil Rated)

Example:
If a stock item, such as a laptop, has a GST rate of 18%, the setup will appear as follows:

• HSN Code: 8471
• GST Rate: 18% (CGST 9% + SGST 9%)
• Taxability: Taxable

B. View GST Rate Setup for Stock Groups

1. Go to Gateway of Tally > Alter > Stock Group.
2. Select the stock group, such as “Electronics.”
3. Scroll to the GST Details section.
4. Verify the GST rate applied at the group level.

Example:
A stock group named “Electronics” may have a GST rate of 18%, which applies to all items under this group unless overridden at the stock item level.

C. View GST Rate Setup for Accounting Groups

1. Go to Gateway of Tally > Alter > Accounting Group.
2. Select the relevant group, such as “Sales Accounts” or “Purchase Accounts.”
3. Scroll to the GST section and check the applied tax rate.

Example:
If a group called “Sales – Electronics” is assigned 18% GST, all sales ledgers under this group will have the same rate unless modified at the ledger level.

D. View GST Rate Setup for Sales and Purchase Ledgers

1. Go to Gateway of Tally > Alter > Ledger.
2. Select a sales or purchase ledger, such as “Sales – GST 18%.”
3. Scroll to the GST Details section.
4. Verify:
   • Tax Rate
   • Nature of Transaction (such as Sales Taxable, Purchase Taxable, Export, SEZ, etc.)
   • Type of Supply (Goods or Services)

Example:
A ledger named “Sales – GST 18%” might have the following details:

• Nature of Transaction: Sales Taxable
• GST Rate: 18%
• Type of Supply: Goods

3. Verify GST Rate Setup for Multiple Masters in One Place in TallyPrime

TallyPrime provides a report to view all GST setups across masters.

Steps to View GST Rate Setup Report

1. Go to Gateway of Tally > Display More Reports > Statutory Reports > GST Reports > GST Rate Setup.
2. Select the option GST Rate Setup for Masters.
3. The report displays:
   • List of stock items, stock groups, accounting groups, and ledgers.
   • GST rates applied to each.
   • Taxability status (Taxable, Exempt, or Nil Rated).
4. Filter and Export Data:
   • Press F12 (Configure) to modify the view.
   • Export the report to Excel if required.

4. Benefits of Viewing GST Rate Setup in TallyPrime

• Quick verification of GST rates across different masters.
• Helps in correcting wrong GST rates before generating invoices.
• Reduces errors in GST return filing.
• Ensures compliance with government tax regulations.

5. Conclusion

• TallyPrime provides multiple ways to check the GST rate setup at the stock item, stock group, accounting group, and ledger levels.
• The GST Rate Setup Report offers a consolidated view of all applied GST rates.
• Regular verification of GST setups ensures accuracy in invoices and GST returns.