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QuickBooks for GST

QuickBooks for GST

QuickBooks is GST ready. The GST specific features are automatically enabled for you at no additional cost.

Here are the key things that you will be able to do with QuickBooks GST solution:

  1. Continue to create transactions (invoices, expenses) with the new GST tax rates without any disruption. You won’t lose the ability to create backdated transactions (prior to July 1, 2017) using prevailing rates, i.e. Service Tax, VAT.
  2. Capture GST specific information as mentioned below to make your invoices GST compliant.
    • Your GST Identification Number (GSTIN): In case you don’t have GSTIN click here to learn more about the registration process.
      Note: Not having GSTIN won’t stop you from creating invoices using GST tax rates in QuickBooks.
    • New code for the products(HSN) and/or services (SAC) you sell: Learn more to understand about these new codes.
    • GSTIN of your customers (if applicable): You can add GSTIN of your suppliers to facilitate the generation of accurate GST returns (GSTR).
  3. Customise invoice template to display the GST specific information mentioned above.
  4. View how much GST tax you owe per filing period (i.e. per month).
  5. Generate GST Return (GSTR) reports or let your accountants generate it to complete filing.

For more information on how to setup QuickBooks for GST, read Setting up QuickBooks for GST

Have more questions about QuickBooks and GST?  Read our GST FAQs: How GST impacts QuickBooks India

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