Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
Why am I getting errors related to invalid tax rates in the GST audit report? How can I identify and fix transactions with wrong tax rates?
The error of invalid tax rate will show in gst audit report due to missmatch of item tax rate and
tax rate mentioned in voucher are different
To identify and solve the error of invalid tax rates in the voucher you need to follow
the steps
Step1 go to display menu and click on gst reports
Step2 click on gst audit reports and select invalid tax rates in voucher
Step3 select sale or purchase or account voucher then click on local or central or combined
Step4 select the date range and ok
Step5 the error items list in voucher will show in report enter on it and select the item master
press alter M and modify the tax rate mentioned in item master or change the sale or purchase
type in voucher and save the voucher
I entered the OTP but it says invalid. How can I get the correct OTP?
If you entered the OTP but it said it was invalid, you need to follow the below steps:
Step 1: First, confirm that the GST portal user name should be mentioned in the GST/VAT option. To confirm this, go to Administration, then select Configuration, then select Features & Options.
then select the GST/VAT option, in which you have to mention the GST portal user name.
Step 1: First, you need to set API access from your GST portal.
Step 2: Login to your GST portal and go to the profile. Click on the Manage API Access option, then give it 30 days of access.
Step 3: Open a company go to the GST misc. utilities option and open the download GSTR json data report and download the GSTR 1, 2A, 2B, and 3B reports month-wise. At that time, you will get the correct OTP option.
There are no HSN or tax issues showing up in BUSY. Is this correct?
No, it is not correct to show up in BUSY HSN or tax issues. To check this, you need to follow the below steps:
Step 1: You have to check the GST report to view the HSN or tax issue from Display, then select GST Reports, then select GST Returns.
Step 2: then select GSTR-1, then select the date range. After selecting the date range, press OK or F2 to load the report.
Step 3: After loading the report, you can view the HSN code-wise report.
Step 4: Here you can see the HSN-wise report, and it will show the invalid transaction entry for the HSN code and tax, so you can correct it.
Step 5: Also, you can validate the HSN code from transactions, then select GST Misc. Utilities, then select Validate HSN Online.
Step 6: then select Load the Report, validate the HSN, and correct the invalid HSN code.
Can you explain the differences between GSTR-, A, B, and B?
GSTR-1 is a return that contains details of outward supplies made by a taxpayer. It includes information about sales and outward supplies made to registered and unregistered persons.
GSTR-2A is an auto-generated return that reflects the inward supplies received by a taxpayer. It is generated based on the details uploaded by the suppliers in their GSTR-1 returns.
GSTR-2B is also an auto-generated return that provides a summarized view of the inward supplies received by a taxpayer. It includes details from GSTR-2A but excludes certain sections like amendments, ISD credits, and TDS/TCS credits.
GSTR-3B is a monthly summary return that taxpayers need to file. It includes details of both outward and inward supplies, along with the input tax credit (ITC) claimed and the tax liability for the period. It is a self-assessed return and serves as a provisional return for payment of taxes.
How do I manage taxes like GST in BUSY?
Managing taxes like GST in BUSY is easy and convenient. Some of the features of BUSY for GST are:
1. GST Invoicing: You can create GST invoices with all the necessary details, such as GSTIN, invoice number, date, tax rate, etc.
2. GST Summary:The software automatically calculates your tax liability and input tax credit based on your transactions.
3. GST Reconciliation: You can reconcile your GSTR-2A/2B data with your purchase data and identify any mismatches or errors. You ca also reconcile your self filed data of GSTR1 & GSTR3B.
4. GST Reports: You can access various GST reports using BUSY, such as GSTR-1, GSTR-2, GSTR-3B, GSTR-4, GSTR-9, etc. You can also view and analyze your GST data in different ways, such as by party, item, tax rate wise, etc.
5. GST Returns: You can generate and file your GST returns online using BUSY such as GSTR-1, GSTR-3B, GSTR-4 & GSTR-ITC-04.
How do I upload GST returns directly from BUSY
Manageing taxes like GST in BUSY is easy and convenient. Some of the features of BUSY for GST are:
1. GST Invoicing: You can create GST invoices with all the necessary details, such as GSTIN, invoice number, date, tax rate, etc.
2. GST Summary:The software automatically calculates your tax liability and input tax credit based on your transactions.
3. GST Reconciliation: You can reconcile your GSTR-2Aor2B data with your purchase data and identify any mismatches or errors. You ca also reconcile your self filed data of GSTR1 & GSTR3B.
4. GST Reports: You can access various GST reports using BUSY, such as GSTR-1, GSTR-2, GSTR-3B, GSTR-4, GSTR-9, etc. You can also view and analyze your GST data in different ways, such as by party, item, tax rate wise, etc.
5. GST Returns: You can generate and file your GST returns online using BUSY such as GSTR-1, GSTR-3B, GSTR-4 & GSTR-ITC-04.
How to manage taxes and deductions in BUSY?
Managing taxes like GST in BUSY is easy and convenient. Some of the features of BUSY for GST are:
1. GST Invoicing: You can create GST invoices with all the necessary details, such as GSTIN, invoice number, date, tax rate, etc.
2. GST Summary:The software automatically calculates your tax liability and input tax credit based on your transactions.
3. GST Reconciliation: You can reconcile your GSTR-2A/2B data with your purchase data and identify any mismatches or errors. You ca also reconcile your self filed data of GSTR1 & GSTR3B.
4. GST Reports: You can access various GST reports using BUSY, such as GSTR-1, GSTR-2, GSTR-3B, GSTR-4, GSTR-9, etc. You can also view and analyze your GST data in different ways, such as by party, item, tax rate wise, etc.
5. GST Returns: You can generate and file your GST returns online using BUSY such as GSTR-1, GSTR-3B, GSTR-4 & GSTR-ITC-04.
I want to add custom columns in a report to show quantity and tax rate wise breakup under HSN. How can I do this?
If you want to add any fields in the report then you can add it through custom column as per your requirement.
Pls Follow the Below Steps for Custom Column in Reports:
Step 1: Open the required report and Click on Custom Column Option
Step 2: Mention the Format Name
Step 3: Click on Add New Column or Add New Row
For New Column :
Step 1: Mention the Heading, Position ,Data type Field and Alignment as per your need.
Step 2: Select the Field Value - Data Field
Step 3: Select the Category - Account Master or Inventory Header
Step 4: Select the required field
For New Row :
Step 1: Enable the sub details option
Step 2: Mention the Show After and Column Field, For when should show and under Which Column.
Step 3: Select the Category, Column Name and Required Field.
I am unable to see my GST taxable value and total GST amount in the GST reports. How can I get this information?
To access GST taxable value and total GST amount in GST reports in BUSY, follow these steps:
Step 1: Launch BUSY GST Software.
Step 2: Go to the Display menu.
Step 3: Select GST Reports.
Step 4: Choose GST Summary from the available options.
Step 5: Within the GST Summary report, you will find options for various sales reports, including Item Wise Sales Summary, Party Wise Sales Summary, and Sale Type Wise Sales Summary.
Step 6: Select the relevant sub-report based on your requirements. For a 5% GST summary, you might choose Item Wise Sales Summary or another appropriate option that provides the bifurcation of tax rates.
Step 7: In this selected report, you will find the bifurcation of sales data based on different tax rates, including the 5% GST summary.
Step 8: Click Print to generate a hard copy of the report.
I am unable to find the 'All Other ITC' details in the GST report. Where can I see the breakup for this?
to find the 'All Other ITC' details in the GST report , 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
