Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
How can I get the tax calculations to be accurate based on the sales amounts?
To get the tax calculations to be accurate based on the sales amounts, make sure the below reasons are:
1. First, make sure you select the correct sale type as per the required tax rate. If you select a tax-inclusive and item-wise tax rate, then it will show the tax rate at the item level, or if you select an indivisual tax rate and a multi-tax rate, then you should apply the tax to the bill-sundery level for accurate tax calculations.
2. Also, make sure the item master tax category selected is correct as per the required tax rate.
Why is the data not getting fetched in the Excel sheet for GSTR-B filing?
If you are facing issues with GSTR 3B data not reflecting correctly in the Excel sheet, please provide more details about the specific data discrepancies so that we can assist you more effectively. Additionally, for concerns related to purchases and purchase returns, it is crucial to check the monthly ITC tagging feature while accessing the GSTR 3B report. If your company does not utilize the monthly ITC features, ensure that the relevant option for monthly ITC tagging is disabled while opening the GSTR 3B report to accurately capture and report the relevant ITC in the GSTR 3B filing process.
Where can I find the API key or credentials to upload data to BUSY?
To upload data to BUSY, you need to enable API access or credentials. For this, you need to follow the below steps:
Step 1: Visit the GST portal at gst.gov.in and click on Login.
Step 2: Enter your credentials to login to your account.
Step 3: On the top right, click on the My Profile option.
Step 4: Under the quick-links panel, select Manage API Access.
Step 5: Select Enable API as Yes and choose the desired duration from the dropdown. You can select a minimum of 6 hours or a maximum of 30 days.
Step 6: Click on ‘Confirm’ to activate the API session.
What is the process to adjust input tax credit against GST liability in BUSY?
"To adjust GST input tax in GST, please follow below mnetioned steps:
Step 1: Go to display menu and then GST Summary
Step 2: Ensure your balance tax payable and ledger balance both value should be matched.
Step 3: Press F4 to adjust the CGST,SGST, IGST output balance to adjust with input balance.
Step 4: Press F4 for adjusting output bal(if any) with input balance of other head.
Step 5: Debit balance of all heads wil carry forward in next month automatically and credit balance, you need to make payment at the end of month in GST payable account.
How do I open the GST Payable RCM account from last year?.
for Showing Last year RCM Account follow the Step
Step :1 login Last Year Company if Use Multi Finacial Year then press F11 after login Current Finacial year
Step :2 Make Sure in Last year all RCM Entry Posted or not from Transactions then GST Misc. Utilities then Check/Post Consolidated RCM Payable Report
Step :3 after check posting entry Go to Display then GST Reports Click on GST Returns then GSTR-3B
Step :4 See Gst RCM Payble Report 3.1(d) Inward Supp. (liable to Rev. Charge) or Col No 4A3 Inward Supplies to reverse Charge .
The tax amount is not matching between my invoice printout and online filing. Why is there a difference?
If the tax amount is not matching between your invoice printout and online filing,
You need to reconcile GSTR data to match the BUSY reports and portal reports for GST, you need to follow the below steps:
Step 1: Click on transactions.
Step 2: GST misc utilities
Step 3: Download GSTR JSON data.
Step 4: Then Reconcile GSTR data for GSTR-1, GSTR-2A (Party wise) and (Vch. wise), GSTR-2B (Party wise) and (Vch. wise), GSTR-3B,
Step 5: Then select the relevant information and set Yes to mismatch report only to view the mismatch details.
Why is an ineligible ITC amount showing in my books even though I have not claimed it?
BUSY Book will display data as per the accounting and inventory data entry. However, the ineligible itc is merely a status which we tagged in monthly itc tagging for those entry whose ITC will not claim.
To check ITC Ineligible data can check ITC claimed register, you can follow below steps:
1. Go to the Display tab and click on GST reports.
2. Select the GST register and then click on ITC claim register.
3. Click on party wise or date wise as per requirement.
4. Select ITC Status while open ITC claim register.
Why is my input tax credit not getting adjusted correctly against my GST liability in the system?
To correct GST input tax in GSTereturn, please follow below mentioned steps:
Step 1: Go to display menu and then GST Summary
Step 2: Ensure your balance tax payable and ledger balance both value should be matched.
Step 3: Press F4 to adjust the CGST,SGST, IGST output balance to adjust with input balance.
Step 4: Press F4 for adjusting output bal(if any) with input balance of other head.
Step 5: Debit balance of all heads wil carry forward in next month automatically and credit balance, you need to make payment at the end of month in GST payable account.
I am getting wrong GST input credits being calculated. What could be the potential reasons and solutions for this?
The potential reasons for incorrect GST input credits being calculated in BUSY could be
1 The GST nature may not be taken properly while generated Voucher it should be
B2B expense in GST nature for expense voucher and ITC eligibility must be Input goods and
services for purchase
2 The expense item master or account ledger might be not contain the proper GST type
it should be gst applicable for expense account and Service percent in tax category for
item master
3 The gst might not be applied properly on voucher
How can I get a consistent view of sales entries and reports in BUSY when amounts are mismatching?
follow these steps to address the issue:
Step 1: Check for any duplicate entries, or missing transactions.
Step 2; Ensure that each transaction is recorded correctly, including the sales amount, tax rates, discounts, and any other relevant details.
Step 3: Make sure that the amounts in your sales entries matched with the invoiced amounts.
Step 4 ;Implement a regular reconciliation process in BUSY .
Step 5: Examine your sales entries for duplicate entries or multiple records for the same transaction.
Step 6: Ensure that the correct GST rates, tax codes, and classifications are applied to each transaction.