The Tax Rules section gives an overview, from which you can manage your settings.
When creating your Hike account you would have ticked the option in Store setup > General, whether taxes would be inclusive or exclusive, so that the taxes listed here will either be added to or included in your final product sale price.
Note there will always be two steps to the process of adding taxes to products.
- Firstly, you will create or edit the Tax Rule in Store setup > Tax rules
- Secondly, you will need to add the Tax Rule to your product in Products > Products
Let's look at the steps to edit a Tax rule.
SELECT TAX RATE
Clicking the Tax name will trigger the edit screen to slide out.
EDIT TAX RATE
Complete the following fields, and click Save to create a new Tax Rule
Tax nameMandatory field, create a name up to 50 characters long
Rate %Mandatory field, list your applicable tax rate, anywhere from 0.00% up to 100%,
- Can be up to 2 decimal places only, ie 0.05%
- If the tax rate changes, all new products will be charged at the new rate, however, you may find it easier to create a new Tax Rule, to make it easier to understand your historical records.
(If you add a new tax rule, will need to assign rule to each relevant product)
Set this as default tax rate tick boxTick this box if you wish this to be the default choice
- When editing, the default tax rate can not be deleted
About this tax rateOptional description field, up to 200 characters
- This description will also appear under the About column on the main Tax Rules page