Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst rcm advance tax
I want to make RCM payments in the software. What is the process I should follow?
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply/To handle GST Reverse Charge Mechanism in BUSY one have to perform 3 Tasks.
A) Create Expense...
I entered some transactions and passed journal entries for RCM expenses. But I don't see them getting posted. What is the process to record RCM expenses properly?
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply/To handle GST Reverse Charge Mechanism in BUSY one have to perform 3 Tasks.
A) Create Expense...
How do I record reverse charge mechanism (RCM) entries correctly in BUSY? What is the right process?
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply/To handle GST Reverse Charge Mechanism in BUSY one have to perform 3 Tasks.
A) Create Expense...
What is the right process to record RCM entries so that my GST returns are filed properly?
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply/To handle GST Reverse Charge Mechanism in BUSY one have to perform 3 Tasks.
A) Create Expense...
I made a direct online payment to a foreign service provider that is subject to RCM. How should I record this transaction properly in BUSY?
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply/To handle GST Reverse Charge Mechanism in BUSY one have to perform 3 Tasks.
A) Create Expense...
I need help understanding where the reverse charge ITC is reflected in the GST returns. Can you please guide?
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply/To handle GST Reverse Charge Mechanism in BUSY one have to perform 3 Tasks.
A) Create Expense...
How do I enable or view the Reverse Charge Mechanism (RCM) close option in the tax rate-wise GST reports in BUSY?
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply/To handle GST Reverse Charge Mechanism in BUSY one have to perform 3 Tasks.
A) Create Expense...
How do I handle RCM and other special entries in BUSY?
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply/To handle GST Reverse Charge Mechanism in BUSY one have to perform 3 Tasks.
A) Create Expense...
I don't understand how to record RCM expenses in BUSY. Can you explain the steps?
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply/To handle GST Reverse Charge Mechanism in BUSY one have to perform 3 Tasks.
A) Create Expense...
I want to do an RCM transaction in BUSY. What do I need to do?
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply/To handle GST Reverse Charge Mechanism in BUSY one have to perform 3 Tasks.
A) Create Expense...
