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January 21, 2021
Question

How to add gst on margin for some products say HSN 8703 used car or commercial vehicles?

  • January 21, 2021
  • 1 reply
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1 reply

January 22, 2021

Hi there, prashantbhosale7.


I can see how important for your business to add the GST for the used car or commercial vehicles. I’ll help point you in the right direction to properly track these items.


The process requires us to view your account and review the transactions. We always make sure our customers’ data is safe and secure. That said, I recommend contacting our QBO Care Team for further assistance.


One of our specialists will collect sensitive information to access your company. From there, they’ll help separate the taxable item as margin and the other portion for the non-taxable ones.

 

  1. Choose the Help menu in the upper right hand to open the Search window.
  2. From there, scroll down and click the Contact us link.
  3. Type the issue/topic in the field box and then hit the Let’s talk button.
  4. Then, choose the Chat option.

 

For future reference, let me share this article that provides detailed information on how to handle products using the margin scheme: What Is the Margin Scheme Under GST?

 

Also, this guide contains resources on how to manage your sales tax in QBO. Make sure to click the link for the topic to view more details: Setting up QuickBooks for GST. 


Don’t hesitate to leave a comment below if you have any other questions or concerns. I’ll be right here to answer them for you. Wishing your business continued success.