Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
I tagged my input tax credit correctly but it is still not showing right in my GST return. Why could this be happening?
If data for the reverse charge Input Tax Credit (ITC) is not showing in your GST returns, there are several potential reasons for this issue:
Step 1: Double-check your data entry to ensure that you've correctly recorded the reverse charge transactions
Step 2: Make sure you have accurately matched the purchase invoices with the corresponding seller's sales invoices
Step 3: Some reverse charge transactions may be reported in GSTR-3B or other forms, depending on the nature of the transaction.
Step 4: Review the GSTR-2A and GSTR-1A reports on the GST portal to cross-verify the transactions.
I am not able to see invoice-wise breakup in my GST reports. What is the solution?
To see invoice-wise breakup in your GST reports, you can customize the sales
register report by adding separate columns for invoice details and tax breakup.
otherwise you can check default gst report for this
To check that report fololow these steps:
Step 1: go to display
Step 2: Then click on gst reports
Step 3: Then click on Gst registers then click on sales or Purchase register and can check the report
This report will help you to view the breakup of taxes for each individual invoice.
Why is the data not showing in my GST returns for the reverse charge ITC?
If data for the reverse charge Input Tax Credit (ITC) is not showing in your GST returns, there are several potential reasons for this issue:
Step 1: Double-check your data entry to ensure that you've correctly recorded the reverse charge transactions
Step 2: Make sure you have accurately matched the purchase invoices with the corresponding seller's sales invoices
Step 3: Some reverse charge transactions may be reported in GSTR-3B or other forms, depending on the nature of the transaction.
Step 4: Review the GSTR-2A and GSTR-1A reports on the GST portal to cross-verify the transactions.
How can I identify the reasons for mismatch between different reports in BUSY?
To avoid these data entry mistakes and ensure accurate sales figures in your BUSY reports: Implement proper training for data entry personnel. Set up internal controls and review processes to catch and correct errors. Use accounting software features like data validation and reconciliation. Regularly reconcile your sales data with source documents. Double-check data entry for accuracy and completeness. Document discounts, returns, and refunds accurately. Use automated features for tax calculations and currency conversions. Periodically audit your sales data to identify and rectify discrepancies. Stay informed about GST or other tax regulations to ensure proper compliance.
How can I check in BUSY which parties/invoices have local and IGST applied?
To check in BUSY, which parties/invoices have local and IGST applied, you need to follow below steps:
Step 1: Go to Display, then select GST Reports, then select GST Registers,
Step 2: then select Supply Outward Register, then select All party,
Step 3: then select correct date range, and then select the relevant information and then press F2 or OK,
Step 4: These reports will provide party-wise and invoice-wise details of CGST, SGST, and IGST applied.
Step 5: You can cross-check if the taxes were applied correctly by reviewing this report.
Why is the GST not matching in the software for certain transactions?
If the GST not matching in the software for certain transactions, you need to check below reasons:
Step 1: Verify if you selected sales type or purchase type as itemwise or taxinclusive as a central, and specify the Tax rate in item master
Step 2: Ensure proper GST calculation for each row by hitting the enter button after entering the amount for each item.
Step 3: and also verify, if the sales type and purchase type are in individual and multi tax rate it should be the tax applied in bill sundry.
How do I export GST data from BUSY for audit purposes?.
To export GST data from BUSY for audit purposes, you can follow these steps:
1. Open BUSY and log in to your company.
2. Go to the "Reports" section.
3. Select the "GST Reports" option.
4. Choose the specific GST report you need for auditing.
5. Customize the columns and filters as per your requirements.
6. Click on the "Export" button.
7. Select the desired format (Excel or PDF) to export the GST data.
8. Save the exported file to your preferred location.
9. You can now use this exported file for audit purposes.
How can I customize the columns shown in the detailed sales register report? I only need to see a few specific fields.
To export specific columns from the detailed sales register report, follow these steps:
Step 1:Check the top-right side of the report.
Step 2:Ensure you have the necessary rights to customize reports; if not, ask your administrator for access.
If the customization option is not available, it means the report doesn't support this feature.
Step 3:Click on the custom column option for the particular report.
Step 4:Add a name to the format you are creating.
Step 5:Uncheck columns with information you don't need, keeping the relevant information.
Step 6:Save this customized format for future use.
Are there common user errors in BUSY that can lead to mismatches between reports, and how can I check for these errors?
To avoid these data entry mistakes and ensure accurate sales figures in your BUSY reports: Implement proper training for data entry personnel. Set up internal controls and review processes to catch and correct errors. Use accounting software features like data validation and reconciliation. Regularly reconcile your sales data with source documents. Double-check data entry for accuracy and completeness. Document discounts, returns, and refunds accurately. Use automated features for tax calculations and currency conversions. Periodically audit your sales data to identify and rectify discrepancies. Stay informed about GST or other tax regulations to ensure proper compliance.
How can I check the details of the B report before uploading it to the GST portal in BUSY?
To check the details of the 3B report before uploading it to the GST portal in BUSY, 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 GSTR 3B report.