Ahh… Yes, If I update the item tax template here, the tax value is appearing. But the problem is non of my existing tax templates are listed here neither the one that has been already assigned to the item. So had to try by creating a new item tax template from the option “Create a new item tax template”.
Updating the item category column either at Item Group Level or Item level seems to be solving the issue. The system is auto-fetching the rates and calculating the gst amount correctly. But, is this this the right method? I haven’t seen this method in any of the documents or training videos.