Frequently Asked Questions

Reason: Due to company and party state both is same and if required change party state interstate then it will pick IGST
To post IGST RCM instead of CGST and SGST follow the below steps:
Step 1: Go to master→modify Party master or use ALt+M on party master 
Step 2: Check party state 
Step 3:If required change state

for see input RCM summery please follwe the below steps
 Step 1 : go to the GST report option under transaction menu 
 Step 2: then open gst summaries option & click on GST summary report 
 Step 3: after that mentioned start and end date for open report, there you can see input RCM summary

To post a consolidated RCM payable voucher in BUSY, follow these steps:
 1. Go to GST Miscellaneous Utility.
 2. Select "Post Consolidated RCM Payable."
 3. Choose the monthly basis and select the month.
 4. Press F4 to generate the entry.
 5. Save the entry with the date set as the last day of the month.

Create new sales type under RCM ( taxation type -this not created by default )
To pass sales entry for RCM follow the below steps:
Step 1: By pressing F3 on sales type or in master creation add new sales type 
Step 2: Choose taxation type RCM under sales type creation 
Step 3: Selest local / central 

To do the RCM calculation for the month for RCM invoices in BUSY you have to follow the steps 
 1 go to transaction menu and click on gst misc utilities
 2 click on check post consolidated rcm
 3 select monthly basis option and select the month then press F4 to calculate RCM tax liability

To simplify, if you receive Reverse Charge Mechanism (RCM) payments, you can handle them in two ways: manually in a journal voucher or through a payment voucher with the Payment to Government option for GST. However, instead of doing this manually, you have the option to automatically post RCM vouchers using the GST Summary Report.

If you modified freight inwards tagging in BUSY and RCM not calculating automatically then you should check the 
 following things 
 1 check the freight ledger RCM nature is under compulsory and its tax category mentioned properly 
 2 make sure that in expense voucher you have selected GST nature as RCM Expense

To consolidate RCM in BUSY, you need to go to the GST Miscellaneous Utility and select the option to "Post Consolidated RCM Payable." Then, choose the frequency (monthly or quarterly) and select the specific month. Press F4 to generate the entry and save it with the date as the last day of the month.

To find the RCM Reports in BUSY you have to follow the steps
 1 go to display menu click on gst reports then click on gst summaries
 2 click on gst summary and select the date range and press ok
 3 in this report you can check output gst on RCM if its consolidated

If you're seeing incorrect tax rates in your GST reports, follow these steps: 
 Step 1 : Check that the GST rate in your voucher matches the rate set in the item master. 
 Step 2: Ensure that you've chosen the right sales type for the transaction, based on the items you've sold.