How to update GST Rate appl. from 01.01.2022
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 |
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Note:
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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://ginesysone.atlassian.net/wiki/pages/createpage.action?spaceKey=PUB&title=How%20to%20update%20GST%20Rate%20-%20FAQ
For more information visit this - How to update the GST rates for HSN in Ginesys