GST Master

GST Master

The GST Master in TruePOS is a centralised module designed to manage all GST-related configurations efficiently. This feature helps businesses maintain compliance with GST regulations by enabling accurate tax calculations for transactions, reporting, and filing.

​

Purpose  

The GST Master ensures:

  1. Accurate Tax Calculations: Automatically applies the correct GST rates to items.

  2. Ease of Compliance: Simplifies GST reporting and filing by maintaining consistent data.

  3. Customizable Settings: Tailors GST configurations to specific business requirements.

​

Key Features of GST Master  

  1. Tax Rates Configuration

    • Predefined GST slabs (0%, 5%, 12%, 18%, 28%) based on government regulations.

    • Support for custom tax rates for business-specific requirements.

  1. Item-Wise GST Mapping

    • Assign appropriate GST rates to individual items.

    • Supports HSN (Harmonized System of Nomenclature) code mapping for GST compliance.

  1. State-Wise GST Handling

    • Configures CGST, SGST, and IGST rates based on the state of supply.

    • Automatic switching between SGST/CGST and IGST based on intra-state or inter-state transactions.

  1. GSTIN Management

    • Stores GST Identification Numbers (GSTIN) for businesses and branches.

    • Validates GSTIN format during entry.

  1. GST Rounding Settings

    • Configure rounding rules for tax amounts to match billing practices.

  1. Tax-Inclusive and Tax-Exclusive Billing

    • Option to enable tax-inclusive pricing for MRP-based sales.

    • Switch between tax-inclusive or tax-exclusive item pricing.

 

  1. GST Reports

    • Generates GST Summary Reports for GSTR-1, GSTR-2, and GSTR-3B filing.

    • Detailed reports include HSN-wise and invoice-wise breakdowns.

​

Steps to Configure GST Master  

  1. Access GST Master

    • Navigate to Masters > GST Master in the TruePOS software.

 

    • Add GST Number and mark status as active or inactive.

 

 

  1. Configure Tax Rates

    • Click Add Tax.

    • Enter the GST Rate, Description, and applicable HSN Code (if any).

    • Save the configuration.

  1. Item-Wise Mapping

    • Go to Item Master.

    • Select an item and assign the relevant GST Rate and HSN Code.

    • Save changes.

  1. Setup GSTIN

    • Go to Organization Settings > GST Details.

    • Enter the GSTIN for each branch/location.

    • Validate and save.

  1. Enable Rounding and Pricing Options

    • Navigate to Settings > Billing Configuration.

    • Enable or disable rounding and tax-inclusive options.

    • Save configurations.

  1. Generate GST Reports

    • Navigate to Reports > GST Reports.

    • Select the desired report type (e.g., GSTR-1).

    • Apply filters and download.

​

Common FAQs  

  1. How to update GST rates?

    • Navigate to GST Tax and edit the existing tax rate or add a new one. Ensure the updated rates are reflected in Item Master mappings.

  1. What to do if GSTIN validation fails?

    • Verify the GSTIN format: 15 alphanumeric characters.

    • Check for any typographical errors and re-enter the GSTIN.

  1. Can I generate reports for a specific period?

    • Yes, reports can be filtered by date range before generation.

  1. What if an item does not have an HSN code?

    • You can save the item without an HSN code, but it's recommended to add the code for compliance.

  1. How to handle tax-exclusive pricing for an MRP-based item?

    • Ensure the tax-inclusive option is disabled for the item in Item Master.

​

Best Practices  

  1. Regularly update GST rates and HSN codes to reflect government changes.

  2. Validate GSTIN entries for accuracy.

  3. Periodically generate and review GST reports to ensure compliance.

​

Support  

For further assistance, please contact the TruePOS support team via: