price based GST rate
In India for HSN falling under chapter 62 & 63 of GST act (primarily dealing with textile, garments, apparels, home furnishing, accessories etc),
GST of 5% is applicable for items upto Rs. 1000/- and GST of 12% is applicable for items above Rs. 1000.
For Example :
For example : I have an item Shirt (HSN 6205) setup as an inventory item having GST inclusive selling price of Rs. 1200 (. (Sale Price without GST : Rs. 1071.43 + 12% GST : Rs. 128.57 = Rs. 1200 GST inclusive price). Here, GST rate is 12% because item cost (without GST) is more than Rs. 1000.
However, at the time of creating sales invoice, If i decide to sell the same item at 20% discount then Item cost becomes Rs. 857.14 (ie less than Rs. 1000) and now as per GST act, applicable will be 5%. So GST inclusive Sales price to show in invoice should be Rs. 900 (Rs. 857.14 + 5% GST : Rs. 42.86).
However, we are not able to set this multiple GST rate as per price (5% upto Rs. 1000 and 12% more than Rs. 1000) in Zoho inventory/ Zoho books at the time of creating inventory item.
This 5% and 12% GST applicability should be automatic for user specified HSN/ inventory Items based on sales price.
What is the solution ? This is very very urgent as this this is a compliance issue.