GST Rate Change – How to Update GST Rates in TallyPrime

The government has proposed simpler two-rate system of 5% and 18%, with a separate higher rate applicable only on a limited set of luxury or demerit goods. This implies a major movement and realignment of products and services to different GST rate category.

The decision will be made in the upcoming GST council meeting on 3^rd and 4^th September. If you are using TallyPrime, updating the new GST rates is quick and easy.  Whether the GST rate needs to be updated for 50, 500, or even 5,000 items (or more), TallyPrime’s GST Rate Setup utility makes it possible in just a few simple steps.

You no longer need to open and edit each stock item individually. Instead, you can update rates at the company level, and as needed, apply changes at the stock group, stock item, or ledger level.

Updating new GST rate in TallyPrime

Let’s walk through how you can update the GST rates in TallyPrime in different scenarios.

• Multiple GST Rate – Goods in your business belong to multiple GST Rate
• Single GST Rate - All products/Services in your business belong to single GST Rate

How to update new GST rate in TallyPrime

Multiple GST Rate – Goods in your business belong to multiple GST Rate

Let’s say, there 1000’ of goods that your business currently engages and all belongs different GST rate, say 12%, 28 % etc.  Here, you can use GST rate setup to quickly find and update the new GST rate at Stock group, Items and ledgers.

Steps to update rate using GST rate setup:

1. Go to Alt+G (Go To) > GST Rate Setup.
2. Select the type of master (e.g., Stock Items) and press Enter.
3. In the report, select the stock group/ item you want to update and press Alt+S (Update GST Details).
   • You can also select multiple stock groups/ items by pressing the Spacebar.
4. In the Update GST Details screen:
   • the applicable GST Rate.
   • Mention the effective date
     • To view or update history, press Alt+H (HSN/SAC Details (History)) or Alt+W (GST Rate Details (History)).
5. Press Ctrl+A to save the details.

The updated details will now reflect both in the GST Rate Setup report and the relevant master.

Single GST Rate - All products/Services in your business belong to single GST Rate

Let’s say, there 1000’ of goods that your business currently engages and all belongs on GST rate, say and currently, rate details are configured at company level. In this case, you can update the GST rate at company level and all goods will inherit the new rate from such date.

Steps to update GST Rate:

1. Press F11 for features
2. Set/Alter company GST Rate and other details to Yes
3. In GST Rate details, ‘Select Specify Details here’
4. Under, GST Rate, mention the new GST rate
5. Mention the effective date and accept the screen

Why GST Rate Setup in TallyPrime Makes Life Easier

• Bulk updates: Change GST rates and HSN/SAC for multiple items in one go.
• Quick identification: Instantly find masters without tax rates.
• Flexibility: Switch views (rate-wise, HSN-wise, item-wise) for better clarity.
• Compliance-friendly: Stay updated with government notifications by updating all items under a particular HSN/SAC.

With the GST Rate Setup report, TallyPrime ensures that you stay compliant with GST rules while also simplifying your day-to-day operations.

That’s how you can view, update, and manage GST rates in TallyPrime with complete ease. Instead of navigating multiple masters, you now have a central report to handle it all.