Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
The accounting entries for GST (CGST, SGST, IGST) are not getting posted correctly. What could be going wrong?
If the GST accounting entries are not correctly posted then make sure that you are passing the entries in the each month for the adjustment.You have to pass the journal entry for adjusting the GST input with GST Output month wise so that ledger balance properly get maintained in BUSY.
Pls follow the below steps.
Step 1: Click on Display menu
Step 2: Then GST Reports
Step 3: Then GST Summaries
Step 4: Then GST Summary and select the date range
Step 5: Then press the shortcut key F4 and select the Input Output adjustment from the popup window.After that the journal voucher get post automatically where DEBIT the GST output Account and CREDIT the GST input Account.
Note : Do this process after the data backup.
I am unable to find the option to make an ITC reversal entry. Where can I find it?
To show an ITC Reversal Entry in the correct section, follow these steps:
Step 1 : Go to the Transaction menu and choose Journal Voucher. and select Add mode.
Step 2 : Enter the voucher number and date for the period in which you want to make the reversal entry under GST.
Step 3 : Choose GST Nature as GST Tax Adjustment.
Step 4 : Pick the relevant account for the entry.
Step 5 : When saving the voucher, a GST adjustment details window will appear.In this window, select GST Adjustment Type as ITC Reversal/Ineligible ITC. and select select Rule under Input Adjustment Type
After completing these steps, the system will display the ITC Reversal entries in the right section under GSTR3B.
I want to extract bill details text-wise from BUSY for GST filing. How can I get this information?
To extract bill details text-wise from BUSY , follow these steps:
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 Registers
Step 5: Look for the Gst Sales register Report option, and click on it to access this specific report
Step 6: There is option to the open report Bill Wise / Item Wise / Combined .
Step 7: you can select as Bill wise option .
Step 8: This report will display a breakdown or bifurcation of the output tax data based on tax rates
The GST status is not reflecting accurately in my BUSY. How can I get the correct GST status?
Follow below steps to get the correct GST status in BUSY:
Step 1: Take backup of your data.
Step 2: Go in House-Keeping section.
Step 3: Click on Update voucher GST summary as per your convenience , either partial or full.
Step 4: Check tagging of account like, CGST,SGST,IGST and Sale/Purchase Type.
Step 5: If you have applied some other charges before tax then in bill sundry of that master,The option of accounting in Sale/purchase has to be Y and specify Account
Step 6: Ensure you have passed correct GST adjustment entry in BUSY during that period.
Further you need to check it in short range and find the mismatch correct it through above options, and if still issue persists then you can share your concern on support@busy.in
How do I generate GST reports in BUSY?
In BUSY, We can check the GST Reports through the below Steps :
Step 1: Display Menu
Step 2: GST Reports
Step 3: GST Summaries - Here we can see GST report date wise, Annually, Party wise , Item wise Sale and Purchase Type wise.
Step 4: GST Returns - Here we can see GSTR 1, GSTR 2, GSTR 3B, GSTR 6,GSTR 9 reports with ereturn option.
Step 5: GST Register - Here we can see Sales, Purchase, GSTR 2A , GSTR 2B, ITC Tagging and Electronic Cash and Credit Ledger.
Step 6: GST Other Reports - Here we can see Tax rate wise output, Purchase and Expense wise ITC, Bill wise ITC Reversal , HSN Summary and Input Available against stock.
Step 7: GST Audit Report - Here we can see report for error.
I want to understand how purchase value, tax amounts, and sale value are recorded between the profit & loss account, purchase register, sale register, and GST reports. What is the correct way these different values are captured?
To get your GST reports in the desired orientation (portrait or landscape), follow these steps:
Step 1: Go to Display.
Step 2: Select GST Reports.
Step 3: Choose GST Registers.
Step 4: Pick Sales Register.
Step 5: Select the register to be shown for local, central, and combined.
Step 6: Choose the register to be shown for bill-wise, HSN code-wise, and item-wise.
Step 7: Select the register to be shown for both B2B and B2C.
Step 8: Set the date range and relevant information, then press OK and F2.
Step 9: After loading the report, click on the print option.
In the Print from Grid option, select the orientation (portrait or landscape) mode for the GST report.
I am trying to view my HSN summary report in BUSY but it is not showing the purchase payments. How can I get it to display purchase payments?
HSN summary report is not displaying purchase payments, you can follow these steps to address the issue and ensure that purchase payments are included:
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 HSN wise Summary Report option, and click on it to access this specific report
Step 6: Review the Bifurcation of 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
How to show discount and other charges in invoices and GST returns in BUSY?Some invoice details are missing in the GSTRHow can I add them?
If you want to show discount and other charges in invoices then please follow the
given steps
Step 1: Please create discount bill sundry and for other charges.
Step 2: Apply it while creating bill in the bill sundry option and save.
Step 3: Then it will show in the invoice.
If some invoice details are missing in GSTR 1 then please follow the given steps
Step 1: Ensure you have applied the tax in that voucher
Step 2: Please open item master in modify mode and check skip in gst report
must be set as N.
Step 3: GST nature should not set as not applicable.
Step 4: Make sure in sale type skip in gst report must be set as N.
I want to see details of both sales and purchase in the HSN summary report in BUSY. What settings do I need to configure?
HSN summary report is not displaying purchase payments, you can follow these steps to address the issue and ensure that purchase payments are included:
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 HSN wise Summary Report option, and click on it to access this specific report
Step 6: Review the Bifurcation of 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
I am trying to reconcile my GSTR- and GSTR-B reports, but the taxable values are not matching. What should I check to resolve this?
To reconcile my GSTR-1 and GSTR-3B reports, but the taxable values are not matching,please follow below steps :
Step 1: Double-check all invoices, sales, and purchase data to make sure they are correctly recorded.
Step 2: Check if the tax category or rates used in GSTR-1 and GSTR-3B match for each transaction.
Step 3 : Reconcile individual invoices to ensure that the data in both reports
Step 4: Review the ITC claimed in GSTR-3B and verify if it corresponds to the data in GSTR-1.
Step 5: Consider any discounts, adjustments, or additional charges that may affect the taxable value.
Step 6: Verify if any supplies are exempt from GST
Step 7 : Check HSN codes and SAC used in both reports match for each transaction.