How do I add tax exemptions, if any?
The government has introduced zero rated tax as part of the four slab GST structure. As per the model GST law, 50% of the goods that belong to the Consumer Price Index (CPI) basket are eligible for zero rated tax. So, if you run an organization that sells zero rated or exempted goods, you can add the reason for tax exemption and choose the same while raising an invoice. To add Tax Exemptions:
- Click the Settings icon , and select Taxes.
- Go to the Tax Exemptions section and click + New Exemption.
- Enter the reason and description.
- Choose whether the exemption reason is applicable for an item or a customer.
- Click Save for the changes to take effect.