Overview of Rate wise GST

Enable Rate wise GST in Marg Software

Process to apply Rate wise GST in Marg Software

OVERVIEW OF RATE WISE GST

• There is a requirement through the government for example if any of our products is sold below Rs. 1000 then the GST Tax% that will be charged will be different for that product. If the same or any other product is sold for Rs. 1000 or above then the GST Tax% that will be charged on it will be different.
• This law is applied for different types of products of different categories of trades i.e. shoes, footwear, garments, etc.  So, in order to maintain Rate Wise GST automatically, Marg Software has a provision for it.

ENABLE RATE WISE GST IN MARG SOFTWARE

Note: Rate wise GST feature not available in Basic Version.

• Go to Masters > Marg Setups > Control Room.

• A 'Control Room' window will appear.

• The user will select ‘Search in all’.

• A 'Controls' window will appear in which the user will Search 'Rate Wise GST'.

• Now click on ‘Accept’

• A 'Rate wise GST' window will appear.

• In 'Rate wise GST 1-No 2-All 3-Item 4-Company 5-Salt 6-Category 7-Commodity', the user will select the option as per the requirement.

• Suppose selects '2' for Rate wise GST for all.

• In 'Calculate on 1-Rate 2-Taxable Value 3-MRP 4-Rate-Disc%', the user will select the option as per the requirement.

• Suppose selects '2' for taxable value.

• The user will now press 'ESC' key twice.

• Now click on ‘Yes’ to save changes.

PROCESS TO APPLY RATE WISE GST IN MARG SOFTWARE

• Go to Masters > Rate & Discount Master > Company Special > Rate wise GST for All .

• A 'Rate Wise GST' For All window will appear.

• Now the user will mention all the details as per the requirement.

• Suppose mentions If GST% is '5'.

• If Rate > = 500.

• Charge SGST = 6%

• Charge CGST = 6%

• Charge IGST = 12%

• Thereafter, when user creates sale bill with amount above than mentioned in rate wise gst then software automatically picks the rate of GST accordingly to the setup.

• Suppose: We have created a Sale bill of B.LAL & Sons and sold 1 Qty of an item 'Becosule' to him of Rs 550 (which is more than the defined value) so that software will pick the rate of GST as 12% automatically and shows an alert that 'Tax change due to rate wise GST'.

Note : Software prefers 'Rate wise GST' Over actual rate of GST of an Item.

For Example, In our Case software picks 12% GST of Becosule at the time of billing over 5% i.e. Actual rate of GST of an item.