Frequently Asked Questions

Here's what you can do to reflect reverse charge entries in your GSTR-1, please follow steps : 
 Step 1: Click on Transaction
 Step 2: Click on GST Misc. Utilities
 Step 3: Click on Check/Post Consolidated RCM Payable
 Step 4: Select Either Monthly Basis or Daily Dasis in which one wants to Create the Vocuher.
 Step 5: Select required Details as asked
 Step 6: Click on OK (F2)
 Step 7: Press F4 to Post 'Consolidated RCM Payable' Voucher
 Step 8: Select the Series in which one wants to Post the Voucher
 Step 9: Specify Date in which one wants to Post the Voucher
 Step 10: Click on Save
 Step 11: Click on YEN when asked
 Step 12: Click on Save
 Step 13: Specify Required Details
 Step 14: Click on Save
 Step 15: Click on Save when asked
 Step 16: Click on Yes/No as Required

Here's what you can do to reflect reverse charge amounts in your GSTR-1, please follow steps : 
 Step 1: Click on Transaction
 Step 2: Click on GST Misc. Utilities
 Step 3: Click on Check/Post Consolidated RCM Payable
 Step 4: Select Either Monthly Basis or Daily Dasis in which one wants to Create the Vocuher.
 Step 5: Select required Details as asked
 Step 6: Click on OK (F2)
 Step 7: Press F4 to Post 'Consolidated RCM Payable' Voucher
 Step 8: Select the Series in which one wants to Post the Voucher
 Step 9: Specify Date in which one wants to Post the Voucher
 Step 10: Click on Save
 Step 11: Click on YEN when asked
 Step 12: Click on Save
 Step 13: Specify Required Details
 Step 14: Click on Save
 Step 15: Click on Save when asked
 Step 16: Click on Yes/No as Required

The RCM (Reverse Charge Mechanism) entry is not getting populated automatically, please follow steps : 
 Step 1: Click on Transaction
 Step 2: Click on GST Misc. Utilities
 Step 3: Click on Check/Post Consolidated RCM Payable
 Step 4: Select Either Monthly Basis or Daily Dasis in which one wants to Create the Vocuher.
 Step 5: Select required Details as asked
 Step 6: Click on OK (F2)
 Step 7: Press F4 to Post 'Consolidated RCM Payable' Voucher
 Step 8: Select the Series in which one wants to Post the Voucher
 Step 9: Specify Date in which one wants to Post the Voucher
 Step 10: Click on Save
 Step 11: Click on YEN when asked
 Step 12: Click on Save
 Step 13: Specify Required Details
 Step 14: Click on Save
 Step 15: Click on Save when asked
 Step 16: Click on Yes/No as Required

It is applicable when an advance amount is received from the customer before the date of supply of goods or services.
Step 1: Enable advance receipt from GST/VAT from Administration->Configuration->Feature and Options->GST/VAT.
Step 2: Enter the Receipt voucher with Gst Nature-Advance Receipt & create reference details with Tax rate inclusive in allocation of advance tax window.
Step 3: Enter the sale voucher of that customer & adjust the advance receipt reference with the same tax rate.
Step 4: Have to post an advance tax voucher from F4, If the sale voucher is not adjusted in the same month.
(Transaction>Gst Misc. Utilities>check/post tax on advance receipt>Press F4).
Step 5: If Sale voucher is not adjusted in any month & customer is asking for Refund, Then have to pass the payment voucher with Gst nature- Refund against advance receipt & Adjust it that pending receipt reference.

Here's a general process for adjusting input and output GST in BUSY:
 Step 1: Open the GST Summary section
 Step 2: While in the GST Summary, press the F4 key on your keyboard.
 Step 3: Select Adjustment or Payment Option
 Step 4: A message box will appear, allowing you to select the type of voucher you want to post.
 Step 5 : The available options typically include RCM to regular tax Adjustment.
 Step 6: Select this option when you need to make adjustments to your GST data.
 Step 7: After selecting the voucher type, you'll be prompted to enter the necessary details. Step 8: Once you've entered the required information, save and post the voucher.
 Step 9: This will update your GST ledger and balances based on the adjustments or payments made.

If you are facing issue related to consolidated rcm payable entry please ensure given below points:
1. Make sure rcm expense entry is properly generated
2. GST nature should be selected as RCM EXPENSE in rcm expense entry
3. If you have created rcm voucher through purchase Make sure make sure purchase type should be selected as Local-RCM / UnReg and reverse charge should be selected as compulsory
4. If you are booking RCM expense voucher through journal and payment voucher in that case make sure GST nature should be selected as RCM expense
5. In the expense master GST type should be selected as GST applicable specify the tax category properly
6. RCM nature should be selected as compulsory in expense master
After checking all of these things then try to pass the consolidated rcm payable voucher

To post GST Reverse charge transaction in BUSY, you can follow the below steps:
Step 1: Go to transaction section and then select Journal or payment voucher to post RCM expense entry.
Step 2: Click on Add tab and post th accounting entry with GST nature RCM expense.
Step 3: After post RCM entry, Go transaction section then select GST Misc. Utilities menu.
Step 4: Now, Click on Check/Post consolidate RCM payable option and then you have to select the range for which RCM consolidate to be post. You can either select Monthly basis or daily basis.
Step 5: Next, Mention the date range and open the RCM payable report.
Step 6: Select the entry and can post RCM consolidate entry by Pressing Function key F4 and save the window.

If you want to record input service with an RCM nature you need to follow given below steps:
Step 1: Go to transactions menu
Step 2: Then go to purchase voucher then select appropriate purchase type for RCM such as Local-RCM / UnReg ,ITC eligibility as input services and then select reverse charge as service import
Step 3: In case you are doing entry in journal or payment voucher make sure in the expense master itc eligibility should be selected as input services 
Step 4: And rcm nature should be selected as service import 
By following these steps you can generate rcm entry for the service

If you want to record transportation charges with an RCM  you need to follow given below steps:
Step 1: Go to transactions menu
Step 2: Then go to purchase voucher then select appropriate purchase type for RCM such as Local-RCM / UnReg ,ITC eligibility as input services and then select reverse charge as service import
Step 3: And then create Transport charges Account master under RCM .
Step 3: In case you are doing entry in journal or payment voucher make sure in the expense master itc eligibility should be selected as input services 
Step 4: And rcm nature should be selected as service import 

To Enable reverse charge mechanism (RCM) in the BUSY, kindy follow the steps below: 
 Step1 : Creating a new sale type for reverse charge (RCM) . 
 Step 2 : Go administration . 
 Step 3 : Select on masters options 
 Step 4 : Go to sale type options 
 Step5 : Click on add create RCM sale type in taxation type select RCM/UnReg. 
 Step6 : Create a RCM sale name sale type in taxation type options select RCM/UnReg, Save. 
 Step7 : Now try generate e-invoice of reverse charge it will show as , Reverse charge Yes .