GST tax rates

Please refer to the Government of India website for all your GST queries, tax rates, exemption rules, tax filing dates, GST updates and everything else.

QuickBooks and GST

We are ready with GST, are you?

Are you setting up GST on QuickBooks? Read Setting up QuickBooks for GST


Frequently asked questions about QuickBooks for GST

GSTIN
Creating GST-ready invoices
HSN/SAC codes
GST Reports
Filing GST returns

Miscellaneous


GSTIN

Q: I am unable to add my GSTIN, what should I do?

If you are unable to add your GSTIN through our GST widget on the Dashboard or anywhere else in QuickBooks, you can do the following:

  1. Click on Taxes on the left menu and it will take you to Tax Centre.
  2. In Tax Centre, select GST as a tax agency.
  3. GST will be your default tax agency if you are setting up your taxes for the first time.
  4. Click Edit GST button on the right.
  5. Under Edit GST settings add your GSTIN.

Q: What happens if my customer gives me a wrong state for the GSTIN? Can QuickBooks fetch correct state from the mentioned GSTIN?

No, at this moment QuickBooks cannot validate state from GSTIN.

Q: If I have two GSTIN numbers, how should I configure QuickBooks to support them?

Currently, QuickBooks is designed to support one GSTIN per company. If you have multiple GSTIN, please create multiple companies to manage them end-to-end.

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Creating GST-ready invoices

Q: Will QuickBooks pickup place of supply automatically from customer/supplier information? 

Yes, Place of Supply will default to the State of Shipping Address. But please make sure that the spelling is correct in the Customer Information dialog. If the name does not match what QuickBooks has, the Place of Supply will be left blank. For example, if Gujarat is spelt Gujrat in Customer Information, QuickBooks will leave Place of Supply blank.

Q: Will QuickBooks allow us to upload invoices from our online application?

Currently, it does not have any such option.

Q: How should I edit/update recurring invoices created on the old tax regime?

For the recurring invoices created in old tax regime, please edit your recurring invoice templates using the steps given in the following article: Editing recurring templates. Make sure to edit and change the tax rates and other GST related information in the template, so that the invoices generated are GST-compliant.

Q: How should I print State code on the Invoice?

Please ensure that the State name has been correctly updated in the Shipping Address (or Billing Address if both are the same) in the Customer Information dialog. The state name should be spelt correctly for the State Code to get printed on the invoice.

Q: Can I have GST tax bifurcation on line items?

At present QuickBooks prints tax information in the invoice at sub-total level. Tax bifurcation by line item is not available. Do take a look at the Tax Summary table at the bottom of the invoice (in case invoices printed using of imported form styles) and in the Subtotal section (in case of invoices printed using the Standard style)  for total taxes charged on the transaction.

Q: Why don't I see 3% tax rate for GST?

Currently, QuickBooks does not have 3% GST option. We will keep you posted on its availability. Update - GST 3% is now available in QuickBooks.

Q: How will advances be treated in QuickBooks for GST?  

Advances will be created in QuickBooks the same way theysp are done today. This functionality hasn't been changed.

Q: How do we create Receipt Vouchers in GST?

Currently, QuickBooks doesn't have any option to generate GST enabled receipt vouchers.

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HSN/SAC codes

Q: Will QuickBooks automatically populate GST rates based on HSN/SAC codes?

Currently, QuickBooks does not have the capability to automatically populate GST rates based on HSN/SAC codes.

Q: Can QuickBooks automatically update HSN/SAC code if I specify the product/ service?

No, currently there's no such option.

Q: How do I add HSN /SAC codes on Custom Form Style?

QuickBooks now supports upload of custom created form styles along with GST specific fields. When creating your template, do make sure that you have a field for Place of Supply and a column for HSN/SAC. While performing the mapping, you will be able to map QuickBooks' Place of Supply and HSN/SAC fields to the ones on your template. To get started, you may want to use the sample template that QuickBooks provides for custom form style import. Read more here: How to Import Invoice Template Styles from Word.

Q: How do I add HSN /SAC codes on estimates?

HSN/SAC codes will be picked up by estimates as is done in invoices. You do not need to take any additional steps at the moment.

Q: Why SAC starting with 0044 is not updated in QuickBooks?

SAC starting with 0044 were applicable in the Service Tax regime. In GST regime, the government has implemented new SAC which can be downloaded through this link.
Please work with your accountant to determine the SAC you should be using in the new GST regime.

Q: Can I upload HSN /SAC codes in bulk in QuickBooks?

See How to add HSN and SAC codes to your products and services for more information.

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GST Reports

Q: Will I be able to reconcile my inward and outward supply invoices on QuickBooks so that I can manage my Input Tax Credit better?

Currently, we do not have this capability in QuickBooks. However, you can run reports in QuickBooks to list all the invoices you issued and bills you entered. The GSTR 1 will have your sales details and you can match your bills report with the GSTR2A report from government's website outside QuickBooks.

Q: How will I be able to view my Input Tax Credit in QuickBooks?

To know your input tax credit, please run GSTR 2 reports. However, you will have to check the GSTR 2A report at government's portal to know the exact input tax credit available to you.

Q: In QuickBooks, the GST reports which I will export and send to my CA, will it have the same format as suggested by the government?

Yes, the format is the same as what the Government of India published.

Q: Will QuickBooks take closing stock GST at the time of GST return?

You can check closing stock in the inventory report. No information will be pulled into a GST report.

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Filing GST returns

Q: Will QuickBooks help me file returns online onto the government portal?

At present QuickBooks do not have the option to file GST returns within the product. However, you can download the reports and use them for filing.

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Miscellaneous

Q: Will I be able to use VAT, CST, excise duty, and service tax in QuickBooks after July 1, 2017?

Yes, you can use these taxes. However, you will not be able to use these tax agencies to create transactions dated on or after July 1, 2017. You can always create backdated transactions, or modify old transactions using these rates.

Q: Will I be able to perform transactions based on old tax regime after July 1, 2017?

Yes. Select transaction date as prior to July 1, 2017. You will be able to see old tax rates and use them.

Q: Will I be charged extra for GST enabled QuickBooks?

No, there will be no extra charge for the GST-enabled features in QuickBooks.

Q: Does the refund policy change due to QuickBooks upgrade?

No, refund policy does not change for any up gradation in QuickBooks in India.

Q: Can users look forward to some tie-up of QuickBooks with any GST Service Provider (GSP)?

With the first release of its GST solution, QuickBooks allows users to generate GSTR reports. We do not have any tie-up with any GSP at the moment. Users can choose to subscribe to any GSP provider of their choice and use QuickBooks generated GSTR reports. We are actively working to improve our GST functionality.

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