In GST we require the invoices to show the breakup of taxes for the items. Whereas I can see them on the Sales Invoice document, I can’t figure out how to print them in a print format. Is there a way to do it?
Please help with this matter. I brought this issue up earlier as well. We need to show tax break up in print. If we can print Item wise tax break field which is now a code field, this can be sorted. What should we do?
@Pawan, To be frank I dont know if there is any such list. However even if such list is not available, we can maintain the TAX %age against the HSN code as a master data and apply it while creating order and invoice?
This will avoid effort duplication of updating the tax rate in each item for both - one time setup as well as any revision in future for tax rates.
HSN Codes can either be 2 digit, 4 digit, 6 digit, or 8 digit based on size. I don’t think we should assume that all users must use the 8 digit codes.
Tally doesn’t place rates at the HSN level, and I dont believe Quickbooks or SAP do either. (This conclusion is based on looking through their documentation on GST. If I am wrong, please feel free to correct me.)
It would become quite problematic if we assign a tax rate to an item based on the HSN code because :
You will be forced to use the 8 digit HSN code - which is not mandatory for all tax payers, it is mandatory only for tax payers above a certain turnover.
Your IGST, CGST and SGST components will create a conflict - since CGST and SGCT divide the tax by half between them, you need to set in the right parameters and additional checks in your invoice item table.