Date Wise Tax Change in Item
Here are the steps for Date wise Tax Change in Item. To learn more, you can also watch this RADIX Online tutorial video:
For Date wise Tax Change in Item in Radix,
- After logging in to the Company Main menu, Go to Masters > Items > HSN/SAC Master.
- HSN/SAC Master entry form will open. Select details here such as:
- HSN/SAC - Enter the description of the HSN/SAC here.
- Code - This field will be auto-generated. However, if you want you can change it.
- Description - This field will be auto-generated. However, if you want you can change it.
- HSN/SAC Code - Enter your 4 digit HSN/SAC code here.
- Tax Group - Press F4 key and select the tax group from the list of options displayed. (For example 5%)
- Type - Here, if you are creating HSN, then select HSN, otherwise for Services select SAC from the list of options displayed.
- Go to 2 Advanced section. Enter other details here:
- Apply Date - Enter the date from which tax should be applied on the item for this HSN/SAC. (For example 01/04/2021)
- Notes - Press F4 button and enter remarks/information here, if any.
- Attracts Reverse - Tick this option, if buyer is going to pay the tax, otherwise un-tick the check-box and proceed.
- You can enter the fields you want and leave rest of the fields blank and proceed.
- Once all the details have been entered, click on Save button. Your HSN/SAC will be created.
- Repeat steps 2nd and 3rd and create same HSN Code with different tax group and different applied date. (For example 12% and 01/07/2021)
- Create a new item or edit an existing item and enter the HSN Code created here.
- Create a new Sales Transaction, and select the item with this HSN Code.
- Now, for all the invoices dated between 01/04/2021 till 30/06/2021, 5% tax will be applied and for all the invoices dated from 01/07/2021, 12% tax will be applied.
Related Topics:
1. Rate Wise Tax Change in Item
3. Create Item