GST 2.0: How to Make Changes in Book Keeper

With the latest GST changes effective from 22nd September, many products have been moved to new tax slabs.

Now, to accommodate these changes in your business, running smoothly and efficiently with Book Keeper, you need to make a change in the item tax account in the application. Let's discuss this modification.

Whether the items are changed from Taxable slab to Taxable slab (28% to 5%), or Taxable to Nil-rated slab (18% to 0%), or Taxable to Exempted, you need to follow the same process to reflect these changes.

A. Windows
Open Book Keeper > Go to Inventory Items > Click on the item you want to edit > Press Edit > Change Default Tax Account.
For example, let’s say earlier it was GST@28% - 28%. You can select GST@18% - 18% and Save.

Check this video: GST 2.0 in Book Keeper

All the vouchers that were created previously (before rate update) will remain in the same tax account.

For example, the vouchers created with GST@28% will remain at 28% tax rate. After updating the tax account to GST@18% in Items, the new vouchers will take 18% tax slab.

https://www.youtube.com/watch?v=D64Hk5ls-Fo

B. Android
Open Book Keeper > Open your company > On Dashboard, click on Inventory Items > Click on 3 dots next to item name > Edit > Under Add Pricing Details, change Default Tax Account > Save.

All the vouchers that were created previously (before rate update) will remain in the same tax account.
For example, the vouchers created with GST@18% will remain at 18% tax rate. After updating the tax account to GST@5% in Items, the new vouchers will take 5% tax slab.

C. iOS
Open Book Keeper > Open your company > Go to Inventory Items > Left swipe on the item you want to update > Click on More > Edit > Here you can change the Default Tax Account.

All the vouchers that were created previously (before rate update) will remain in the same tax account.
For example, the vouchers created with GST@18% will remain at 18% tax rate. After updating the tax account to GST@5% in Items, the new vouchers will take 5% tax slab.

That’s it. You are good to go with GST 2.0 updates.

Bulk Update the Items Default Tax

1. For Local or Dropbox-based Companies

   a. Silver or Gold or Diamond plan (Same process):

   1. Open Book Keeper Windows > Open your company

   2. Go to Tools > Click on Import Items/Services from Excel

   3. Click on Download Existing Items in Excel

   4. Open the downloaded excel file > In the column Tax Scheme Name, change your tax account.

   5. Do this step carefully, the tax account should be present in the Book Keeper. Also make sure spellings are correct.

   6. Save the changes

   7. In Book Keeper, upload this excel file and select Update Existing Items. Make sure you select this option

   8. Now press Import

2. For BKWeb Companies

   a. Silver plan: You need to manually update each item.
   b. Gold or Diamond plan:

   1. Open Book Keeper Windows > Open your company

   2. Go to Gold plan on top > Click on Export Items/Services from Excel. (Make sure you have Gold plan, then you can access this feature)

   3. Follow Step 3 to 8 from above. The rest of the process will remain the same.

Check this video: GST 2.0 in Book Keeper 

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