Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
What are the common mistakes made during data set up that impact GST reporting in BUSY?How to link advance payment, final invoice and customs invoice in software?
The common mistakes during the data entry that impact the GST Reporting in BUSY are mentioned below:
1. GST No. of party is incorrect or inactive.
2. Sale / Purchase type is selected wrongly.
3. Tax rate in the item master is incorrect.
4. ITC eligibility is selected wrong in purchase voucher.
For done advance payment to customer you need to record normal payment voucher in BUSY and create a reference no.
Then you can adjust that payment into purchase voucher and adjust the reference no. Also create import purchase voucher for custom duties.
I want to add a column in the supply output register report to indicate if the HSN code is valid or invalid. How can I do this?
In BUSY, there is not provision to add a column in the supply outward register to show the HSN code valid or invalid. However you can validate your item's HSN Code by using these steps:
Step 1: Go to Transaction menu and click on GST Misc. Utilities.
Step 2: Select Validate HSN Online and can select Single HSN or Multiple HSN.
Step 3: For all items select multiple and then load data.
Step 4: Select all and click on validate online and can see which HSN Code is valid or invalid.
I am unable to see the impact of my journal entries for GST adjustment in the B report. What should I do to resolve this?
If you are unable to see the impact of your GST adjustment in 3B report you need to ensure below mentioned points:
1. Gst nature of those journal entries should be correct
2. Ledger you have selected should be correct
3. Group of ledger should be correct
4. Amount gst specified in ledger of those entries should be correct and should be equal to actual gst
5. Make sure all adjustment enries should be correct otherwise it will leads to mismatch
6. Make sure you are using current and latest release of BUSY
I want to export the purchase register with all details like original purchase date, invoice received date etc. How can I do this in BUSY?
To export the purchase register of GST reports in BUSY, you need to follow these steps:
Step 1: Go to Display menu and click on GST Reports.
Step 2: Then, select GST Registers and select Purchase Register.
Step 3: You can filter the report by Local, Central or Combined.
Step 4: Enter the date range and open the report, here you can add columns if need through custom column feature.
Step 5: Click on Export button or press ALT+E and can export report in the given format such as PDF, Excel, Google Sheet, etc.
The ITC Reclaimed column is automatically getting added in my GST reports after a portal update. How can I prevent this column from showing?
GST report is a default report that is available in BUSY according to the template provided by BUSY so in case you want to hide or remove that column please follow these steps:
Step 1: Open your gst report in which you want to remove the column
Step 2: Then click on custom column
Step 3: Afterwards mention format name and untick the field id of that column and save the format
Step 4: Then go back to display and again open the report specify the format name and open it
How can I record exempt, nil rated and zero rated items separately in the same voucher?
To record exempt, nil rated, and zero rated items separately in the same voucher, you can specify the tax type for each item. In the tax type field, select Exempt for items that are exempt from GST under certain conditions or government notifications. Select Nil Rated for items that are totally tax-free and always taxable at 0%. And select Zero Rated for items that have a zero tax rate without any conditions or government notifications. By specifying the appropriate tax type for each item, you can ensure that select sale type as Multi rate.
I am getting an error while generating GSTR- return file. How can I diagnose the issue?
getting an error while generating GSTR-1 return file to rectify that error follow these steps
1. go to the GST reports under Display menu
2. open GST returns and click on GSTR1 e-return
3. click on direct upload or JSON to generate file
4. mentioned relevant date range and click on ok
4. then check possible error screen appeared.
5. you can check all error before generating file to verify all details are entered in GSTR1 is correct or not after verify all details you can proceed to generate file .
How to ensure GST entries are passed correctly as per the tax period in BUSY?
To ensure GST entries are passed correctly as per the tax period in BUSY you can follow below steps:
Step 1: Go to display and click on GST reports.
Step 2: Under GST reports, click on GST Audit reports. There you will get multiple reports like common mistakes report, Parties with invalid GSTIN, Invalid Tax rate in voucher and reconcile accounts and GST.
Step 3: You can check these various reports it will show the error and rectify it accordingly.
It is a advisable to consult a tax professional for further checking and clarification.
Why are entries not showing in ledger B in BUSY?
Here are some common factors to consider when entries are missing in the GSTR-3B report:
Step 1: Check to ensure that you have correctly entered all relevant transactions
Step 2: The GSTR-3B report typically generates data based on a specific date range.
Step 3: Ensure that the ledger accounts you are using for GST-related transactions are appropriately configured
Step 4: Use the correct voucher type for GST-related entries such as sales or purchase
Step 5: ensure that you have properly claimed ITC and adjusted it against your GST liability in your GSTR-3B return.
I am facing issues with incorrect GST not matching. What should I do to resolve this?
If you facing issues with incorrect GST not matching, 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.