Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
The GST settings in my software seem to have been deleted or removed. How do I re-add the GST details?
After enabling GST/VAT while creating your company, you can easily configure the GST-related settings such as Sale/Pur Type, Tax Category, etc. Then, you can create your items with GST details and generate GST invoices. Further you can still enable it later by following these steps. Please make sure to take latest backup of your data before make any changes.
Step 1: Go to Administration and click on configuration.
Step 2: Select Features / Options and click on GST / VAT, here you will see a option called Enable GST/VAT Reporting click on check box to turn in on and select type as GST and choos type of dealer either Regular or Composition. Enter your GSTIN and click on Create Default GST Masters and save.
Step 3: Now, you can mention tax category, hsn code in your item master and GSTIN in your party masters. You are ready to generate GST invoices. Please note once you enable this feature and pass transaction then you can't disable that feature.
How do I change the status of vouchers from unclaimed to claimed in the software after I have claimed them?
To enable itc tagging and tag itc as claimed,follow these steps
Step 1: Go to administration menu and select configuration from it.
Step 2: In configuration option select feature and option.
Step 3: Then select GST/VAT option and make sure to mention Y in the enable ITC tagging after that click on save button.
Step 4: After that go to transcation option and select GST misc. utilities option.
Step 5: Then select monthly itc tagging as per 2A or 2B.
Step 6: In next window of monthly ITC tagging to be shown as select party wise or date wise as per your requirement.
Step 7: After that select the period for which you want use tagging.
Step 8: Now press F4 key to change status from pending to claimed and mention period in which select return period.
Step 9: Then go to display option and select Gst reports option and open different reports by mentioning Y on the pick relevant Itc tagging from monthly itc tagging.
I am trying to tag ITC as claimed but unable to do so. What is the process to tag ITC as claimed?
To enable itc tagging and tag itc as claimed,follow these steps
Step 1: Go to administration menu and select configuration from it.
Step 2: In configuration option select feature and option.
Step 3: Then select GST/VAT option and make sure to mention Y in the enable ITC tagging after that click on save button.
Step 4: After that go to transcation option and select GST misc. utilities option.
Step 5: Then select monthly itc tagging as per 2A or 2B.
Step 6: In next window of monthly ITC tagging to be shown as select party wise or date wise as per your requirement.
Step 7: After that select the period for which you want use tagging.
Step 8: Now press F4 key to change status from pending to claimed and mention period in which select return period.
Step 9: Then go to display option and select Gst reports option and open different reports by mentioning Y on the pick relevant Itc tagging from monthly itc tagging.
What is the process to record GST and AGS tax that we have to pay but cannot take input credit for in BUSY?
AGS tax not available in BUSY
the process of GST Tax that you have to pay but don't want to take input credit in BUSY then follow these steps
basically for that we have two options:
step 1: while entering purchase transaction you can select itc eligibility as section 17(5) ineligible ITC
or you can go with other option
step 1: go to the GST misc. utilities under transaction menu
step 2: then click on monthly ITC tagging as per GSTR2a or 2B
step 3: select tagging type party wise or date wise
step 4: then mentioned start and end months, also there is other option you can select relevant deatils as per you required.
step 5: after open report you can see all the transactions
step 6: press F4 on particular transactions , ITC claim status screen will be appeared , you can select status as not to be claimed and select period of return
How can I troubleshoot an HSM error while exporting GSTR- to Excel?
To troubleshoot an HSN error while exporting GSTR1 data to excel you need to follow the steps
Step1 Go to display menu and click on GST reports then click on GST Return
Step2 Click on GSTR 1 and select the period and OK
Step3 after opening the GSTR1 reports click on section 12 hsn wise summary of outward supplies
Step4 here you can can check the invalid HSN codes will show on invalid data fould box with reason so rectify it by click on hsn then click on transaction details and click on the voucher where the items hsn was entered and modify it then save
Step5 after modifying of all hsn error go to GSTR1 ereturn option and select the period
then select Plain excel and set path to export
Also need to ensure HSN code must be 4 digit and if your turnover more than 5 crore then the
HSN code should be 6 digit
What reporting and analytics features come with BUSY?
BUSY provides a variety of reports to help you manage your business finances effectively. Some of the reports are:
1. Financial Reports: These include Balance Sheet, Profit & Loss Account, Trial Balance, etc.
2. Account Books: These include Account Ledger, Sales Register, Purchase Register, etc.
3. GST Reports: These include GSTR-1, GSTR-2, GSTR-3B, GSTR-4, GSTR-9, etc. These reports help you to comply with the GST laws and regulations in India.
4. Outstanding Analysis Reports: These include Bills Receivables, Bills Payables, Aeging Reports, etc. These reports help you to manage your cash flow and credit control.
5. MIS Reports: These include Profitability Report, Cash Flow, Fund Flow, Ratio Analysis, Multi Company Results, etc. These reports help you to measure and compare the performance of different segments of your business.
6. Inventory Reports: These include Stock Status, Inventory Books, Inventory Summary, etc. These reports help you to track your inventory level.
BUSY also provides two dashboard options such as User Dashboard and Party Dashboard which can be configured as per the requirements.
I want to generate a report in BUSY to view my GST tax rates, taxable amounts, IGST, CGST, SGST, and percentages separately for my BB and BC sales. How can I do this?
To generate a report in BUSY to view my GST tax rates, taxable amounts, IGST, CGST, SGST, and percentages separately for my B2B and B2C salesHere'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
I want to send the B report from BUSY to my Chartered Accountant. What is the process to do this?
To send the 3B report from BUSY to your chartered accountant, you need to follow the below steps:
Step 1: Go to Display, then select GST Reports, then select GST Returns, then select GSTR-3B.
Step 2: then select the date range, and then select the relevant information as you require, and then press F2 or OK to load the report.
Step 3: After loading the report, you will find the details for every section, like section (17) 5, section (16) 4, etc. for the GSTR 3B report.
Step 4: After loading the report, you will find the option Export at the top of the report, then select the data format as Microsoft Excel, Google Sheets, PDF, HTML, CSV, Text file: delimited; text file: fixed width;
Step 5: After this, select the file name and data path to export the file, then fill in the relevant information, and then press F2 or Ok to export the report to send it to your chartered accountant.
Why are some of my invoices shown as pending for tagging even after I have claimed input credit for them?
Some invoices may still show as pending for tagging even after claiming input credit because they might not have been properly tagged. It is important to ensure that all invoices are correctly tagged to the relevant period in order to claim input credit successfully.
In BUSY you can use the Montly ITC Tagging option to claim your pending ITC in GSTR-3B return. To do this you need to follow these steps:
Step 1: Open the Transactions menu and select GST Misc. Utilities.
Step 2: Choose Montly ITC Tagging as per GSTR-2A / 2B and enter the period then Select ITC Status as Pending.
Step 3: The report will show you all the pending transactions. You need to press F4 to change the status and select ITC Status as Claimed and mention the return period.
Step 4: Now, when you generate the GSTR-3B return set Y on Pick Relevant ITC from Monthly ITC Tagging?
The report will generate will all the ITC that you have tagged in the selected period.
What are the correct settings and procedures for error-free GSTR- filing in BUSY?
To ensure error free GSTR1 filling in BUSY follow the setting and procedure
1 need to enusre that you have installed latest version and release of BUSY
2 Go to administration menu click on configuration then click feature options then click on
GST VAT option and enable gstin number filling frequency and type of dealer then save
3 Make proper Sale voucher with party GSTIN address proper tax rates and item HSN codes
4 Before creating GSTR1 return file Go to Display menu and click on GST reports
then select GST Return and click on GSTR1 and select period then go to HSN summary and
check is their any invalid HSN showing or not if showing then modify it
Match the taxable amount and tax amount and save
5 then go to GSTR1 ereturn option from GST return option select the period of file
check possible errors and modify then generate file
