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Intuit

Set up tax

How to set up Tax

QuickBooks by default supports GST, VAT, Service Tax, Swachh Bharat Cess, Krishi Kalyan Cess, and CST. However, to use these taxes you will have to initialise Tax Centre. To initialise Tax Centre, follow the steps below:

To set up GST, follow the steps below:

  1. Select Taxes on the left menu, then select Set up tax.
  2. Select your Start of tax period.
  3. Enter your GSTIN.
  4. Select GST registration type.
  5. Select your tax Filing frequency for GST.
  6. Select your Accounting method (usually it'll be Accrual, unless you are a professional service provider. If in doubt, please consult your accountant).
  7. Select Next.

Notes:

  • For setting up QuickBooks for GST, you may go through the article Setting up QuickBooks for GST.
  • If you signed up for your QuickBooks file on or after July 1, 2017, QuickBooks would have set up VAT, Service Tax, and CST by default. If you have a file where this hasn't been done, please follow the steps below.

To set up VAT, follow the steps below:

Note: If you are not registered with VAT, simply select Next.

  1. Select your Start of tax period.
  2. Select your tax Filing frequency for VAT.
  3. Select your tax Payment frequency for VAT.
  4. Select your Accounting method (usually it will be Accrual, unless you are a professional service provider. If in doubt, please consult with your accountant).
  5. Enter your VAT Registration number.
  6. Select Next.

To set up Service Tax, follow the steps below:

Note: If you are not registered with Service Tax, simply select Next.

  1. Select your Start of tax period.
  2. Select your tax Filing frequency for Service Tax.
  3. Select your tax Payment frequency for Service Tax.
  4. Select your Accounting method (usually it will be Accrual, unless you are a professional service provider. If in doubt, please consult with your accountant).
  5. Enter your Service Tax Registration number.
  6. Select Next.

To set up Swachh Bharat Cess, follow the steps below:

Note: If you are not registered with Swachh Bharat Cess, simply select Next.

  1. Select your Start of tax period.
  2. Select your tax Filing frequency for Swachh Bharat Cess.
  3. Select your tax Payment frequency for Swachh Bharat Cess.
  4. Select your Accounting method (usually it will be Accrual, unless you are a professional service provider. If in doubt, please consult with your accountant).
  5. Enter your Swachh Bharat Cess Registration number.
  6. Select Next.

To set up Krishi Kalyan Cess, follow the steps below:

Note: If you are not registered with Krishi Kalyan Cess, simply select Next.

  1. Select your Start of tax period.
  2. Select your tax Filing frequency for Krishi Kalyan Cess.
  3. Select your tax Payment frequency for Krishi Kalyan Cess.
  4. Select your Accounting method (usually it will be Accrual, unless you are a professional service provider. If in doubt, please consult with your accountant).
  5. Enter your Krishi Kalyan Cess Registration number.
  6. Select Next.

To set up CST, follow the steps below:

Note: If you are not registered with CST, simply select Next.

  1. Select your Start of tax period.
  2. Select your tax Filing frequency for CST.
  3. Select your tax Payment frequency for CST.
  4. Select your Accounting method (usually it will be Accrual, unless you are a professional service provider. If in doubt, please consult with your accountant).
  5. Enter your CST Registration number.
  6. Select Next, then select Go to Tax centre.

QuickBooks by default supports following rates for VAT, Service Tax and CST:

  • VAT:
    • 14% on both Purchase and Sales Transactions
    • 4% on both Purchase and Sales Transactions
    • 5% on both Purchase and Sales Transactions
  • Service Tax
    • 12.36% on both Purchase and Sales Transactions
  • CST
    • 2% on Sales Transactions

Once you have initialised the Tax Centre, you can now add custom tax rates, custom tax agencies (other than VAT and Service Tax) and group tax through the Add tax button. For more information on how to do this, refer to the following links:

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