Last Updated on: 10th August 2026, 01:14 pm
Inventory Master GST Set Up in Tally Prime 7
Inventory Masters set up in Tally Prime 7
Configuration options for inventory masters are primarily set through F12 (Configure) within the creation or alteration screens. These options allow to customize how data Items in Input form are controlled and recorded. These settings define the operational and statutory behavior of the Inventory System.
Here we discuss Configuration options exclusively related to GST features, for organisations who are registered under GST rules.
Stock Item Master Configuration
Stock Item set up
At Stock Item Creation / Alteration Screen, Click F12:Configure and set the options. Here only the options related GST set up in Stock Items are explained.
- At Provide Rate Inclusive of Tax for Stock Items, set Yes to enter Sales Price inclusive of Tax, in Price List or Standard Sales Rate. It is designed primarily for retail businesses (B2C) where products are sold at a fixed price inclusive of Tax, to avoid computation of Tax for each Item. When set Yes, taxable value and the GST amount would be back calculated from the Tax Inclusive rate .
To charge Tax separately, set No in the option.
- At Modify GST and HSN/SAC Details, set Yes. to provide override option in Transaction entry, to change the HSN /SAC and GST Rate carried from default setting. On selecting a stock item and entering the rate, at GST Rate and Related Details screen, shows the default values. It may be chaged during voucher entry, offering flexibility. However, it should be carefully done, ensure the overrides are legally valid and don’t lead to errors in GST returns.
GST Classification: The Master Template
A GST Classification is a template used to standardize HSN and Tax Rate details, to ensure consistency across multiple items and simplify updates. If the tax rate of an Item gets changed, just update the Classification once, changed is reflected everywhere it is linked to.
GST Classification Creation
GST Classification Master Entry
GoT> Create> GST Classification (under Statutory Master). Enter the Classification Name
(e.g., “Electronics @ 18%”), it is recommended to write the Tax Rate after the name to alert, verify and avoid mistake for selection of appropriate transaction entry
Choose Specify Details Here for both HSN/SAC Details and GST Rate details and enter to enter the specific codes and percentages.
Selection of GST Classification in Stock Items and Vouchers
Stock Group creation using GST Classification
Stock Group creation GST Classification Configuration
Stock Item creation using GST Classification
GST Configuration for Stock Item details
- Stock Item Entry: AtStock Item creation, press F12 and set Set GST Details to Yes.
Under the GST details section, select Use GST Classification and pick desired template from the list. All fields will populate automatically from the classification.
- Voucher Entry (Sales/Purchase) : In voucher entry, press F12 and enable Modify GST and HSN/SAC related details. Back at Voucher entry screen, after selecting the stock item,
- Select Use GST Classification to carry data from selected classification, or,
- select Specify Details Here to manually override and change the values for that specific transaction.
First a pass-through order checks for the GST details, the Voucher first, then the Ledger, Stock Item, Stock Group, and finally the Company Master. Using GST Classifications is strongly recommended for scalability, particularly for organisation having large number of Stock Items with different HSN / SAC Codes, to streamline and manage the GST detail in all records properly cross linked.
GST Set Up Report
The GST Rate Setup report is a centralized dashboard to view and update GST rates and HSN/SAC details for all masters—including stock items, groups, and ledgers—in a single screen.
- Purpose and Use : The report is designed for bulk management and auditing. It helps to quickly identify masters of missing tax rates and allows to update “Source” details. For example, when the GST rate for a Stock Group is changed through central dashboard, the change is automatically reflected in all stock items linked to that Stock group.
- Steps to Use the Report : The report is placed dep inside the menu system, not searchable even through Go To. It contains large list of toggle buttons and further long list inside the F12:Configuration options.
- Buttons at GST Set Up Reports:
- Select GoT>Dislay More Reports>Statutory Reports>GST Reports>GST Utilities>GST Set Up. And select the Master Type (e.g Stock item) to review.
- Click F5 to toggle between viewing Tax Rate wise or HSN/SAC wise view. Click Ctrl+H (Change View) to toggle between Stock Item wise or HSN/SAC wise view. Click Ctrl+B (Basis of Values) and select Without Tax Rate to isolate items that still need configuration.
- Click Alt+S (Update Details) to Updates the GST details for the selected item. Click Alt+H (Update Source Details): Updates the details in the parent master (like the Stock Group or Company level) from which the item inherits its rate.
- Click Configure (F12): to enable columns to see ITC eligibility, Reverse Charge applicability, or the Source of GST details to troubleshoot where a tax rate is being pulled from.
GST Set Up Report
The GST Set Up report, though apparently looks daunting with large options, is flexible means to set entire inventory compliant from a central consolidated place.
