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Create a business vertical

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To make the India localization solution for Goods and Services Tax (GST) in Microsoft Dynamics 365 Finance available, you must complete the following master data setup:

  • Define a business vertical.
  • Update the state code and union territory.
  • Create a Goods and Services Tax Identification Number (GSTIN) master.
  • Define GSTINs for the legal entity, warehouse, vendor, or customer masters.
  • Define Harmonized System of Nomenclature (HSN) codes and Service Accounting Codes (SACs).
  • Create main accounts for the GST posting type.
  • Create a tax settlement period.
  • Attach the GSTIN to a tax registration group.

Follow these steps to create a business vertical.

  1. Go to Tax > Setup > Sales tax > Business verticals.
  2. Select New to create a record.
  3. Enter a name, description, and entity code for the new business vertical.
  4. Select Close.