Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - gst reports
My purchase register report is showing CGST and SGST tax amounts in separate lines even if they are part of the same invoice. I want the full invoice in one line instead of bifurcating the taxes. What settings do I need to change for this?
If your purchase register report in BUSY is displaying CGST and SGST tax amounts in separate lines,
Step 1: Go to the standard invoice settings where you configure how your invoices are displayed.
Step 2: Select Body configuration.
Step 3: Look for options that allow you to disable unnecessary tax columns, such as CGST and SGST, from being displayed separately
Step 4: Alternatively, you can choose to customize the invoice format to show the taxes in a single line for each invoice. Step 5: After making the necessary adjustments to the invoice settings.
I need to check a lot of bills in detail for ITC liability additions. This seems very tedious going bill by bill. What is the most efficient way to do these bulk updates?
To check a lot of bills in detail for ITC liability additions, it seems very tedious to go bill by bill, so 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.
I am unable to file my GSTR-B return properly. The portal is showing an error related to ITC on my debit notes. How can I resolve this?
There could be several reasons for this issue. Here's how you can troubleshoot:
Step 1: Ensure that you have downloded the GSTR 2A data into your accounting software correctly.
Step 2: Verify that the data from GSTR 2A matches the period for which you are preparing the GSTR 3B return.
Step 3: Reconcile data from gst misc. utilities.
Step 4: Ensure that the credits you are trying to claim in GSTR 3B are eligible as per GST rules.
Step 5: Make sure that the ITC entries match the data in GSTR 2A.
How do I ensure accurate calculation of input tax credit in BUSY?
BUSYis essential for proper GST compliance. Here are steps to help you achieve this:
Step 1: Ensure that you have correctly configured tax rates for various GST rates (e.g., 5%, 12%, 18%, and 28%).
Step 2: Ensure consistency in data entry, including item descriptions, tax codes, and transaction dates.
Step 3: Regularly reconcile your ITC calculations with your GST returns (e.g., GSTR-3B, GSTR-2A, GSTR-2B).
Step 4: Double-check vendor invoices for accuracy, including GST details.
Step 5: Reconcile the input GST (GST paid on purchases) with the output GST (GST collected on sales).
How does BUSY handle taxes and tax reporting?
BUSY handles taxes and tax reporting by providing features to apply taxes to vouchers and bills, calculate tax amounts based on tax rates, and generate various tax reports. Users can customize tax rates, set up tax categories, and link tax payment details with sales invoices. BUSY also supports GST compliance, including generating GST returns, handling interstate sales and purchases, and managing input tax credit. The software allows users to reconcile GST data, handle exempted or zero-taxed items, and generate tax reports for composition dealers. BUSY provides comprehensive support for tax management and reporting.
Why is BUSY not picking up the transaction details accurately for GST computation? What can I do to ensure the values are captured correctly?
To ensure accuracy in GST calculations, you can check some of the reasons when BUSY is not capturing transaction details accurately:
1: Incorrect entries or entries contain some invalid data
2: Wrong tax charged or wrong voucher type selected
3: Skip defining the tax rate in the item master
It is important to review your data and ensure that all entries are accurate and match properly
You can refer to our Supply Outward/Inward Register & Audit Report of GST reports through which you can find the entry which contains your invalid data.
BUSY is showing API authentication expired error when I try to download GST returns. What should I do to renew API authentication?
To authenticate API expired error in BUSY while try to download GST Returns
you need to follow the steps
Step1 Go to GST portal and login it then click on my profile option
Step2 Click on manage API access
Step3 enable api access and set the access limit and confirm
Step4 restart BUSY then open company and go to transaction menu and click on GST Misc
utilities and click on download GSTR data then select your Required GSTR option and select the month then click on download
I want to check total purchases as well as purchase details per party in BUSY. Is it possible to generate such reports?
To generate party wise Purchase Register you can follow these steps: Step 1: Go to Display Menu
Step 2: Click on GST Reports
Step 3: Click on GST Registers
Step 4: under GST Registers click on Purchase Register
Step 5: Select Combined option
Step 6: Select Bill –Wise option
Step 7: Select Both B2B and B2C option.
Step 8: Select purchase register bill – wise window
Step 9: Select account master range and if you want to generate single account purchase register.
and choose required date range. click on OK
How can I stop the system from including ineligible ITCs while calculating my tax liability? They are increasing my GST amount.
If you want to stop the system from including Ineligible ITCs in gst calculation please follow these steps:
Step 1: While making the purchase invoice select itc eligibility as ineligible
Step 2: Then go to transactions tab
Step 3: Then click on gst miscellaneous utilities
Step 4: Afterwards select Monthly itc tagging as per GSTR 2A/2B
Step 5: Open the report from party wise or date-wise as required
Step 6: Then select the entry and press f4 and change the status to ineligible as per the sections
My monthly auto-generated ITC statement is not showing my full input tax credit. What should I do to reconcile it?
To reconcile your monthly auto-generated ITC statement and ensure it reflects your full input tax credit, you can follow these steps:
Step 1 : To change the status pending ITC Entries go to the Transacton menu .
Step 2: Click on Gst Misc Utilities option.
Step 3: Select monthly ITC tagging as per GSTR 2A / GSTR 2B
Step 4 : Select Partywise .
Step 5 : In report view enable show previous/Current year transaction .
Step 6 : Select the entry and press F4 to change the status ,