We see a large number of Indian users preferring UltimatePOS, so writing this guide to help them use the application in a better way.
3 Different taxes in India:
- CGST (Central Goods & Services Tax)
- SGST (State Goods & Services Tax )
- IGST (Integrated Goods & Services Tax)
Go to Settings -> Tax Rate setting.
1. Create a tax with name CGST@10% and Tax Rate %: as 10. (10% is for example only, use the tax rate applicable)
2. Create a tax with name SGST@10% and Tax Rate %: as 10. (10% is for example only, use the tax rate applicable)
3. Create a tax with name IGST@14% and Tax Rate %: as 14. (14% is for example only, use the tax rate applicable)
4. Below Tax rate, it shows “Tax groups ( Combination of multiple taxes )”. Create on Add, enter the tax group name as Intra-State-CGST-SGST and select sub-taxes CGST@10% & SGST@10%.
5. Below Tax rate, it shows “Tax groups ( Combination of multiple taxes )”. Create on Add, enter the tax group name as Inter-State-IGST, and select sub-taxes IGST@14%.
With this now when you purchase or sell a product you can select the applicable tax.
Displaying HSN Code for items (For some businesses)
1. HSN code depends on the category of a product.
2. Go to Settings -> Categories, click on “Add”. Add category name and category code. Category code is same as HSN code.
3. To display HSN code in invoice – Go to Settings -> Invoice Settings -> invoice layouts. Add/Edit invoice layout and click on ” Show category code or HSN code”. Save it. Assing that invoice layout to your business. More details here
Setting up invoice format for GST
Check the details guide on invoice format & designs
- To display the summary of tax in the invoice – add the label for “Tax Summary Label”
- To see inline tax try using the columised tax design or detailed design or Elegant or classic as per your need.
Above is comprehensive documentation as per our knowledge on using Ultimate POS for Indian users, do check it out.