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Intuit
3 helpful votes

Know more about GST registration type for suppliers in QuickBooks

For the filing of GSTR2, transactions need to be classified depending on the type of supplier from whom the purchase is done. To facilitate this, we have introduced a new field as ‘GST registration type’. This field will also enable QuickBooks to fill GSTR2 correctly.

Listed below are the supplier types that are available in QuickBooks:

  1. GST registered- Regular: Is a supplier who has a business which is registered under GST and has a GSTIN. (Doesn’t include suppliers registered under composition scheme or as an SEZ)
  2. GST registered- Composition: Is a supplier who has a business which is registered under the composition scheme of GST and has a GSTIN.
  3. GST unregistered: Is a supplier who has a business which is not registered under GST and does not have a GSTIN.
  4. Overseas: Is a supplier who has a business which is located out of India.
  5. SEZ: Is a supplier who has a business which is registered under GST, has a GSTIN and is located in a SEZ.

The default values that are enabled for different type of suppliers are as below:

Supplier Type GSTIN available GST registration type
Existing Yes GST registered- Regular
Existing No GST unregistered
New No GST unregistered

Note: The values in the GSTR2 will depend on the supplier GST registration type you have chosen.

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