Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
How can I generate separate % and % GST sales reports for my CA in BUSY?
To generate separate 5% and 12% GST sales reports for your CA in BUSY, Here's how you can do it:
Step 1: Once you are logged into the software, look for the Display menu.
Step 2: Within the Display menu, you should find a submenu or option related to GST Reports.
Step 3: Click on it to proceed.
Step 4: In the GST Reports section,Look for the option labeled GST Other Reports
Step 5: Look for the Tax Rate Wise Output Tax Report option, and click on it to access this specific report
Step 6: Review the Bifurcation of Tax Rate Wise Output Tax Data and Genate the report . Step 7: This report will display a breakdown or bifurcation of the output tax data based on tax rates
Step 8: Remember to ensure that your transactions are correctly categorized with the appropriate GST rates (5% or 12%) in your accounting software
What is ITC tagging, and how do I do it for previous period's purchases reflecting in the current month's GSTR-B?
Monthly ITC Tagging utility, will be used to claim ITC and the same will be reflected in GSTR 3B. On selecting the Monthly ITC Tagging utility, a Monthly ITC Tagging message box appears with following two options i.e party wise and voucher wise
Here are the steps for ITC tagging of GSTR2B
Step 1: Go to Transaction menu
Step 2: Click on Gst misc. utilites
Step 3: Then you need to download gstr2b data and click on Monthly ITC tagging as per GSTR2B
Step 4: Then select as per party wise or voucher wise
Step 5: Then specify Month and click on OK button
Step 6: Then Select entries and press F4 to specify the status of the entry
Step 7: Then select ITC status, return period, GSTR 2B status as per your requirement
Step 8: Then you can claim invoice in the next month
How do I tag a purchase entry to a future month if that month is not yet showing as an option?
If you wish to claim a previous month's bill in the following month, you can do so using the Monthly ITC tagging option in the BUSY. Here are the steps to follow:
Step 1: Go to the Transaction menu.
Step 2: Click on the GST Miscellaneous option.
Step 3: Select the Monthly ITC Tagging option, either as per GSTR2A or GSTR2B.
Step 4: After opening the report, use F4, and an "ITC claimed status" window will appear. You have to set the ITC Status as "ITC Claimed" and the Return period of the month in which you want to claim the voucher.
Step 5: Then, by opening GSTR2 or GSTR3B, you have to set "Y" to pick the relevant "ITC from monthly ITC Tagging" option.
After following these steps, only those vouchers that you tagged for that specific month from the monthly ITC tagging report will reflect on that particular report.
What is the correct process to update HSN codes and export the reports so my CA can upload the GST returns?
To update HSN codes in BUSY, follow these steps:
Step 1: Go to the Administration section and click on Masters.
Step 2: Select the item and open it either from the Modify or List option.
Step 3: Select the item master for the item whose code you want to update.
Step 4: Update the HSN code manually and save the item master.
To export reports for GST returns in BUSY, follow these steps:
Step 1: Go to Display tab and click on GST Reports.
Step 2: Click on GST Returns
Step 3: Select respective return you want to generate then you will get a method to generate e-return i.e Direct upload, JSON, Govt. Template, CSV, Plain excel.
Note: Direct upload feature only available in GSTR 1.
Step 4: Specify Date Range and check all the possible errors then generate a file.
The gst invoices generated in BUSY are not showing properly in gst reports.How do I resolve this issue?
If gst invoices saved are not showing properly in gst reports,follow these steps
Step 1 Just open the invoice which is not reflecting in gst reports properly
Step 2 Check all details are mentioned correctly like date,party and other item details
Step 3 Check sale type is selected properly and on sale type,use alt+M shortcut key to open it and check all gst accounts are tagged properly and it affects gst reports,then save it
Step 4 Check in item by opening it in modify mode,tax category is tagged in it and then save
Step 5 Check in bill sundry if tax applied in proper and then resave voucher and check in gst reports
Step 6 Also you can update gst report under housekeeping option if all invoices are not updated in gst reports and then check in relevant section in gst reports
Note:Before making any changes,must take backup of company
The GST entries I passed manually are not getting reflected in gst summary. What might be the reason?
If your gst entries passed manually not reflecting in gst summary here are some below reasons you can check and verify:
Step 1: Your voucher is not entered with correct sale purhase type.
Step 2: If you had enabled Skip in GST reports option in your sale purchase type the also the voucher will not reflect in gst summary.
Step 3: If your accounting entry such as Debit Credit notes without items, Registered expense entries are entered with not applicable gst nature.
Step 4: Also the voucher will not reflect if your CGST SGST lGST ledger are not properly created, like it should be tagged under group Duties and Taxes and tax type as CGST SGST IGST respectively. Step 5: If there is voucher related to RCM so ensure that Post consolidated voucher must be posted then the RCM entry will reflect in RCM section GST summary.
I am getting a mismatch in my monthly sales reports. How can I reconcile the differences between the reports?
Here's a step-by-step process to help you reconcile the differences:
Step 1: Start by thoroughly reviewing the monthly sales reports Step 2; Verify the accuracy of data entry for each transaction in your accounting system
Step 3: Look for any duplicate entries or accidental double counting of sales transactions.
Step 4: Verify that all payments from customers have been correctly recorded and matched with the corresponding invoices.
Step 5: Double-check tax calculations, including GST or other applicable taxes, to ensure they are accurate.
Step 6: If you have inventory-related sales, ensure that inventory adjustments, stock movements, and cost of goods sold are accurately reflected.
Step 7: If your sales are linked to bank transactions, reconcile your bank statements to make sure all income is correctly accounted for.
Step 8 :Confirm that the sales data in each report corresponds to the correct reporting period. Ensure there are no date-related errors.
I made a mistake and did not record a GST payment voucher correctly last year in BUSY. How can I fix this issue now?
To record the GST payment properly in the last year in BUSY then you have to pass the below entry.
Step 1: Click on Transactions
Step 2: Then Payment
Step 3: Then Add
Step 4: Select the date for which month you have done the GST payment.
Step 5: Then select the GST Nature as GST payment to the government,If you have done the payment in same month then DEBIT the GST output account and CREDIT the cash or bank account.
Step 6: If you have done the payment in the next month then you need to pass the two entries. One is with creating as liability account by name GST payable under Current liability. DEBIT the GST output account and CREDIT the GST payable account. Second entry will be with GST nature as not applicable, DEBIT the GST payable account and CREDIT the cash or bank account.
How do I get access to the GST portal from within BUSY to download and match data? I am unable to find any linking option.
To link BUSY with gst portal and download gst data and reconcile it then follow the given steps:
Step 1: Go to Administartion menu
Step 2: Click on configuration
Step 3: Then click on Feature and option
Step 4: Then click on GST/VAT feature
Step 5: Then mention gst no. in GSTIN field and mention gst portal user name in the same field given in the feature
Step 6: Then click on Ok button to save the configurationa nd link BUSY with portal
Step 7: Then go to transaction menu
Step 8: Then click on gst misc. utilities
Step 9: Then click on download gstr json data
Step 10: After succesfully downloaded the data, click on Reconcile gstr data
Step 11: Then select particular return and reconcile it with party wise and voucher wise as per your requirement
I need to re-download the GST reports but the same old reports keep getting downloaded. What should I do to force a fresh download?
To Redownload GSTR Report for Reconcile You can follow some steps:
Step 1: Go to the Transaction tab and click on GST Misc.Utilities.
Step 2: After click on GST Misc.Utilities select the Download GSTR JSON Data option.
Step 3: After select the Download GSTR JSON Data option you have to click on the type of GSTR Return For which you want to Reconcile your GSTR Returs and then double click on Saved option near to date download JSON and then click on the Redownload option or can click on Remove Option then OTP will be sent to Your Registratered mail and contact no. on Gst Portal and your GSTR Json will become save after enter OTP.
Step 4: To access this downloaded GSTR JSON Data Go to the Reconcile GSTR Data Option just below the Download GSTR JSON Data option And select GST Return type.
