Add Tax Name & Rates

1.  To add new tax go to Settings -> Tax Rates -> Add
2.  Add a descriptive name (eg: “VAT@5%”) and specify the “Tax Rate%”

Tax Groups

1.  Sometime you will need to apply multiple taxes to an invoice or purchase. So you should create tax groups by combining multiple taxes.
2.  To add a Tax Group – Click on Add Button, Give a meaningful name, select the tax you want to use in this tax group.
3.  The tax rate of tax group will be the sum of tax rates of Sub-taxes added.
4.  If sub-tax is edited the corresponding tax group’s tax rate will also get updated accordingly.
5.  You cannot delete a Tax if it is used in a Tax Group.

We see a large number of users preferring Look POS for this tax calcs, so writing this guide to help them use the application in a better way.

Tax settings:
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1.  CGST (Central Goods & Services Tax)
2.  SGST (State Goods & Services Tax)
3.  IGST (Integrated Goods & Services Tax)

1.  Go to Settings -> Tax Rate setting.
2  . Create a tax with name CGST@10% and Tax Rate %: as 10. (10% is for example only, use the tax rate applicable)
3.  Create a tax with name SGST@10% and Tax Rate %: as 10. (10% is for example only, use the tax rate applicable)
4.  Create a tax with name IGST@14% and Tax Rate %: as 14. (14% is for example only, use the tax rate applicable)
5.  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%.
6.  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 business)
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1.  HSN code depend 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”.
4.  Save it. Assign that invoice layout to your business.

1.  Don’t add Tax Rates in settings 2.  Go to Settings – Business Settings.

a.  Uncheck “Enable inline tax in purchase and sell“ b.  Uncheck “Enable Price & Tax info“ c.  Select “Default Sale Tax” as None