diff --git a/erpnext/public/js/controllers/buying.js b/erpnext/public/js/controllers/buying.js
index 0c6bcad..a2a723d 100644
--- a/erpnext/public/js/controllers/buying.js
+++ b/erpnext/public/js/controllers/buying.js
@@ -195,6 +195,10 @@
 		this._super(doc, cdt, cdn);
 	},
 
+	batch_no: function(doc, cdt, cdn) {
+		this._super(doc, cdt, cdn);
+	},
+
 	received_qty: function(doc, cdt, cdn) {
 		this.calculate_accepted_qty(doc, cdt, cdn)
 	},
diff --git a/erpnext/public/js/controllers/transaction.js b/erpnext/public/js/controllers/transaction.js
index 2628099..1d1f18b 100644
--- a/erpnext/public/js/controllers/transaction.js
+++ b/erpnext/public/js/controllers/transaction.js
@@ -589,12 +589,22 @@
 										return frappe.db.get_value("Item", item.item_code, ["has_batch_no", "has_serial_no"])
 											.then((r) => {
 												if (r.message &&
-													(r.message.has_batch_no || r.message.has_serial_no)) {
+												(r.message.has_batch_no || r.message.has_serial_no)) {
 													frappe.flags.hide_serial_batch_dialog = false;
 												}
 											});
 								},
 								() => {
+									// check if batch serial selector is disabled or not
+									if (show_batch_dialog && !frappe.flags.hide_serial_batch_dialog)
+										return frappe.db.get_single_value('Stock Settings', 'disable_serial_no_and_batch_selector')
+											.then((value) => {
+												if (value) {
+													frappe.flags.hide_serial_batch_dialog = true;
+												}
+											});
+								},
+								() => {
 									if(show_batch_dialog && !frappe.flags.hide_serial_batch_dialog) {
 										var d = locals[cdt][cdn];
 										$.each(r.message, function(k, v) {
@@ -1099,6 +1109,11 @@
 		}
 	},
 
+	batch_no: function(doc, cdt, cdn) {
+		let item = frappe.get_doc(cdt, cdn);
+		this.apply_price_list(item, true);
+	},
+
 	toggle_conversion_factor: function(item) {
 		// toggle read only property for conversion factor field if the uom and stock uom are same
 		if(this.frm.get_field('items').grid.fields_map.conversion_factor) {
@@ -1403,6 +1418,7 @@
 					"pricing_rules": d.pricing_rules,
 					"warehouse": d.warehouse,
 					"serial_no": d.serial_no,
+					"batch_no": d.batch_no,
 					"price_list_rate": d.price_list_rate,
 					"conversion_factor": d.conversion_factor || 1.0
 				});
diff --git a/erpnext/selling/sales_common.js b/erpnext/selling/sales_common.js
index 7f00fca..ce08464 100644
--- a/erpnext/selling/sales_common.js
+++ b/erpnext/selling/sales_common.js
@@ -399,6 +399,10 @@
 			}
 	},
 
+	batch_no: function(doc, cdt, cdn) {
+		this._super(doc, cdt, cdn);
+	},
+
 	qty: function(doc, cdt, cdn) {
 		this._super(doc, cdt, cdn);
 
diff --git a/erpnext/stock/doctype/batch/test_batch.py b/erpnext/stock/doctype/batch/test_batch.py
index e41f1a8..97f85ba 100644
--- a/erpnext/stock/doctype/batch/test_batch.py
+++ b/erpnext/stock/doctype/batch/test_batch.py
@@ -8,6 +8,8 @@
 
 from erpnext.stock.doctype.batch.batch import get_batch_qty, UnableToSelectBatchError, get_batch_no
 from frappe.utils import cint, flt
+from erpnext.accounts.doctype.purchase_invoice.test_purchase_invoice import make_purchase_invoice
+from erpnext.stock.get_item_details import get_item_details
 
 class TestBatch(unittest.TestCase):
 	def test_item_has_batch_enabled(self):
@@ -182,7 +184,7 @@
 		stock_entry.cancel()
 		current_batch_qty = flt(frappe.db.get_value("Batch", "B100", "batch_qty"))
 		self.assertEqual(current_batch_qty, existing_batch_qty)
-		
+
 	@classmethod
 	def make_new_batch_and_entry(cls, item_name, batch_name, warehouse):
 		'''Make a new stock entry for given target warehouse and batch name of item'''
@@ -252,6 +254,72 @@
 
 		return batch
 
+	def test_batch_wise_item_price(self):
+		if not frappe.db.get_value('Item', '_Test Batch Price Item'):
+			frappe.get_doc({
+				'doctype': 'Item',
+				'is_stock_item': 1,
+				'item_code': '_Test Batch Price Item',
+				'item_group': 'Products',
+				'has_batch_no': 1,
+				'create_new_batch': 1
+			}).insert(ignore_permissions=True)
+
+		batch1 = create_batch('_Test Batch Price Item', 200, 1)
+		batch2 = create_batch('_Test Batch Price Item', 300, 1)
+		batch3 = create_batch('_Test Batch Price Item', 400, 0)
+
+		args = frappe._dict({
+			"item_code": "_Test Batch Price Item",
+			"company": "_Test Company with perpetual inventory",
+			"price_list": "_Test Price List",
+			"currency": "_Test Currency",
+			"doctype": "Sales Invoice",
+			"conversion_rate": 1,
+			"price_list_currency": "_Test Currency",
+			"plc_conversion_rate": 1,
+			"customer": "_Test Customer",
+			"name": None
+		})
+
+		#test price for batch1
+		args.update({'batch_no': batch1})
+		details = get_item_details(args)
+		self.assertEqual(details.get('price_list_rate'), 200)
+
+		#test price for batch2
+		args.update({'batch_no': batch2})
+		details = get_item_details(args)
+		self.assertEqual(details.get('price_list_rate'), 300)
+
+		#test price for batch3
+		args.update({'batch_no': batch3})
+		details = get_item_details(args)
+		self.assertEqual(details.get('price_list_rate'), 400)
+
+def create_batch(item_code, rate, create_item_price_for_batch):
+	pi = make_purchase_invoice(company="_Test Company with perpetual inventory",
+		warehouse= "Stores - TCP1", cost_center = "Main - TCP1", update_stock=1,
+		expense_account ="_Test Account Cost for Goods Sold - TCP1", item_code=item_code)
+
+	batch = frappe.db.get_value('Batch', {'item': item_code, 'reference_name': pi.name})
+
+	if not create_item_price_for_batch:
+		create_price_list_for_batch(item_code, None, rate)
+	else:
+		create_price_list_for_batch(item_code, batch, rate)
+
+	return batch
+
+def create_price_list_for_batch(item_code, batch, rate):
+	frappe.get_doc({
+		'doctype': 'Item Price',
+		'item_code': '_Test Batch Price Item',
+		'price_list': '_Test Price List',
+		'batch_no': batch,
+		'price_list_rate': rate
+	}).insert()
+
 def make_new_batch(**args):
 	args = frappe._dict(args)
 
diff --git a/erpnext/stock/doctype/item_price/item_price.js b/erpnext/stock/doctype/item_price/item_price.js
index 2729f4b..e4db048 100644
--- a/erpnext/stock/doctype/item_price/item_price.js
+++ b/erpnext/stock/doctype/item_price/item_price.js
@@ -15,5 +15,13 @@
 
 		frm.set_df_property("bulk_import_help", "options",
 			'<a href="#data-import-tool/Item Price">' + __("Import in Bulk") + '</a>');
+
+		frm.set_query('batch_no', function() {
+			return {
+				filters: {
+					'item': frm.doc.item_code
+				}
+			}
+		});
 	}
 });
diff --git a/erpnext/stock/doctype/item_price/item_price.json b/erpnext/stock/doctype/item_price/item_price.json
index 5f62381..83177b3 100644
--- a/erpnext/stock/doctype/item_price/item_price.json
+++ b/erpnext/stock/doctype/item_price/item_price.json
@@ -18,6 +18,7 @@
   "price_list",
   "customer",
   "supplier",
+  "batch_no",
   "column_break_3",
   "buying",
   "selling",
@@ -47,31 +48,41 @@
    "oldfieldtype": "Select",
    "options": "Item",
    "reqd": 1,
-   "search_index": 1
+   "search_index": 1,
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "uom",
    "fieldtype": "Link",
    "label": "UOM",
-   "options": "UOM"
+   "options": "UOM",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "default": "0",
    "description": "Quantity  that must be bought or sold per UOM",
    "fieldname": "packing_unit",
    "fieldtype": "Int",
-   "label": "Packing Unit"
+   "label": "Packing Unit",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "column_break_17",
-   "fieldtype": "Column Break"
+   "fieldtype": "Column Break",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "item_name",
    "fieldtype": "Data",
    "in_list_view": 1,
    "label": "Item Name",
-   "read_only": 1
+   "read_only": 1,
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fetch_from": "item_code.brand",
@@ -79,19 +90,25 @@
    "fieldtype": "Read Only",
    "in_list_view": 1,
    "label": "Brand",
-   "read_only": 1
+   "read_only": 1,
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "item_description",
    "fieldtype": "Text",
    "label": "Item Description",
-   "read_only": 1
+   "read_only": 1,
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "price_list_details",
    "fieldtype": "Section Break",
    "label": "Price List",
-   "options": "fa fa-tags"
+   "options": "fa fa-tags",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "price_list",
@@ -100,7 +117,9 @@
    "in_standard_filter": 1,
    "label": "Price List",
    "options": "Price List",
-   "reqd": 1
+   "reqd": 1,
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "bold": 1,
@@ -108,37 +127,49 @@
    "fieldname": "customer",
    "fieldtype": "Link",
    "label": "Customer",
-   "options": "Customer"
+   "options": "Customer",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "depends_on": "eval:doc.buying == 1",
    "fieldname": "supplier",
    "fieldtype": "Link",
    "label": "Supplier",
-   "options": "Supplier"
+   "options": "Supplier",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "column_break_3",
-   "fieldtype": "Column Break"
+   "fieldtype": "Column Break",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "default": "0",
    "fieldname": "buying",
    "fieldtype": "Check",
    "label": "Buying",
-   "read_only": 1
+   "read_only": 1,
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "default": "0",
    "fieldname": "selling",
    "fieldtype": "Check",
    "label": "Selling",
-   "read_only": 1
+   "read_only": 1,
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "item_details",
    "fieldtype": "Section Break",
-   "options": "fa fa-tag"
+   "options": "fa fa-tag",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "bold": 1,
@@ -146,11 +177,15 @@
    "fieldtype": "Link",
    "label": "Currency",
    "options": "Currency",
-   "read_only": 1
+   "read_only": 1,
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "col_br_1",
-   "fieldtype": "Column Break"
+   "fieldtype": "Column Break",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "price_list_rate",
@@ -162,53 +197,80 @@
    "oldfieldname": "ref_rate",
    "oldfieldtype": "Currency",
    "options": "currency",
-   "reqd": 1
+   "reqd": 1,
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "section_break_15",
-   "fieldtype": "Section Break"
+   "fieldtype": "Section Break",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "default": "Today",
    "fieldname": "valid_from",
    "fieldtype": "Date",
-   "label": "Valid From"
+   "label": "Valid From",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "default": "0",
    "fieldname": "lead_time_days",
    "fieldtype": "Int",
-   "label": "Lead Time in days"
+   "label": "Lead Time in days",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "column_break_18",
-   "fieldtype": "Column Break"
+   "fieldtype": "Column Break",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "valid_upto",
    "fieldtype": "Date",
-   "label": "Valid Upto"
+   "label": "Valid Upto",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "section_break_24",
-   "fieldtype": "Section Break"
+   "fieldtype": "Section Break",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "note",
    "fieldtype": "Text",
-   "label": "Note"
+   "label": "Note",
+   "show_days": 1,
+   "show_seconds": 1
   },
   {
    "fieldname": "reference",
    "fieldtype": "Data",
    "in_list_view": 1,
-   "label": "Reference"
+   "label": "Reference",
+   "show_days": 1,
+   "show_seconds": 1
+  },
+  {
+   "fieldname": "batch_no",
+   "fieldtype": "Link",
+   "label": "Batch No",
+   "options": "Batch",
+   "show_days": 1,
+   "show_seconds": 1
   }
  ],
  "icon": "fa fa-flag",
  "idx": 1,
+ "index_web_pages_for_search": 1,
  "links": [],
- "modified": "2020-07-06 22:31:32.943475",
+ "modified": "2020-12-08 18:12:15.395772",
  "modified_by": "Administrator",
  "module": "Stock",
  "name": "Item Price",
diff --git a/erpnext/stock/doctype/item_price/item_price.py b/erpnext/stock/doctype/item_price/item_price.py
index bed5ea9..e82a19b 100644
--- a/erpnext/stock/doctype/item_price/item_price.py
+++ b/erpnext/stock/doctype/item_price/item_price.py
@@ -54,7 +54,8 @@
 			"valid_upto",
 			"packing_unit",
 			"customer",
-			"supplier",]:
+			"supplier",
+			"batch_no"]:
 			if self.get(field):
 				conditions += " and {0} = %({0})s ".format(field)
 			else:
@@ -68,7 +69,7 @@
 			self.as_dict(),)
 
 		if price_list_rate:
-			frappe.throw(_("Item Price appears multiple times based on Price List, Supplier/Customer, Currency, Item, UOM, Qty, and Dates."), ItemPriceDuplicateItem,)
+			frappe.throw(_("Item Price appears multiple times based on Price List, Supplier/Customer, Currency, Item, Batch, UOM, Qty, and Dates."), ItemPriceDuplicateItem,)
 
 	def before_save(self):
 		if self.selling:
diff --git a/erpnext/stock/doctype/stock_settings/stock_settings.json b/erpnext/stock/doctype/stock_settings/stock_settings.json
index 3ff396b..84af57b 100644
--- a/erpnext/stock/doctype/stock_settings/stock_settings.json
+++ b/erpnext/stock/doctype/stock_settings/stock_settings.json
@@ -16,6 +16,7 @@
   "action_if_quality_inspection_is_not_submitted",
   "show_barcode_field",
   "clean_description_html",
+  "disable_serial_no_and_batch_selector",
   "section_break_7",
   "auto_insert_price_list_rate_if_missing",
   "allow_negative_stock",
@@ -227,6 +228,12 @@
    "fieldname": "control_historical_stock_transactions_section",
    "fieldtype": "Section Break",
    "label": "Control Historical Stock Transactions"
+  },
+  {
+   "default": "0",
+   "fieldname": "disable_serial_no_and_batch_selector",
+   "fieldtype": "Check",
+   "label": "Disable Serial No And Batch Selector"
   }
  ],
  "icon": "icon-cog",
@@ -234,7 +241,7 @@
  "index_web_pages_for_search": 1,
  "issingle": 1,
  "links": [],
- "modified": "2020-12-29 12:53:31.162247",
+ "modified": "2021-01-18 13:15:38.352796",
  "modified_by": "Administrator",
  "module": "Stock",
  "name": "Stock Settings",
diff --git a/erpnext/stock/get_item_details.py b/erpnext/stock/get_item_details.py
index bf45251..dfe8fea 100644
--- a/erpnext/stock/get_item_details.py
+++ b/erpnext/stock/get_item_details.py
@@ -674,6 +674,8 @@
 		and price_list=%(price_list)s
 		and ifnull(uom, '') in ('', %(uom)s)"""
 
+	conditions += "and ifnull(batch_no, '') in ('', %(batch_no)s)"
+
 	if not ignore_party:
 		if args.get("customer"):
 			conditions += " and customer=%(customer)s"
@@ -692,7 +694,7 @@
 
 	return frappe.db.sql(""" select name, price_list_rate, uom
 		from `tabItem Price` {conditions}
-		order by valid_from desc, uom desc """.format(conditions=conditions), args)
+		order by valid_from desc, batch_no desc, uom desc """.format(conditions=conditions), args)
 
 def get_price_list_rate_for(args, item_code):
 	"""
@@ -711,6 +713,7 @@
 			"uom": args.get('uom'),
 			"transaction_date": args.get('transaction_date'),
 			"posting_date": args.get('posting_date'),
+			"batch_no": args.get('batch_no')
 	}
 
 	item_price_data = 0