Frequently Asked Questions

RCM charges are not showing correctly, then check below points.
 Step 1: Go to account master and check the tax category tagged in the item master.
 Step 2: Kindly check the RCM applicability should be selected as compulsory. 
 Step 3: Make sure that reference is created against RCM consolidated voucher.

The RCM 5% rate not getting picked up automatically due to not mentioned the tax 
 category properly in item master or in the expense ledger to get it correct modify the 
 item master tax category mentioned in purchase voucher or the expense ledger tax
 category mentioned in payment voucher

No, RCM entries should not be zero in GST returns. RCM entries represent the reverse charge mechanism expenses that need to be reported. The claim for RCM can be made by the taxpayer, but it may not be received as a refund. It may get converted from SGST to IGST.

If RCM expense is not showng in the P&L statement, then please ensure below points.
 Step 1: Go to administration tab.
 Step 2: Click on Master.
 Step 3: Click on Modify account master.
 Step 4: Kindly ensure that account group should be Indirect Expense and amount should not be zero

for add RCM process as favourit in BUSY please follow below steps
 step1: go to the gst misc. utilities option in transaction menu
 step 2: then select check post /consolidate RCM payable option 
 step 3: then click on add to favourites option below the screen of transaction & save

If you modified the default accounts taken by BUSY for gst rcm consolidated entry and cause of that wrong 
 accounts are reflecting in your gstr1 output then you should delete the old RCM consolidate vaoucher and 
 generate new RCM consolidate entry from Check post consolidate RCM option

To close the past RCM entry in BUSY you have to go to previous year GST summary 
 report and adjust pending rcm adjustment entry by pressinh F4 and click on RCM
 to regular tax adjustment then carry forward the data and enter current year RCM 
 entries properly.

For indentifying Expense under RCM in BUSY, you need to check in account master. Please find below mentioned steps:
 Step 1: Click on Configuration tab.
 Step 2: Click on Master.
 Step 3: Click on Account Master.
 Step 4: Click on Modify Master.
 Step 5: Select RCM nature as compulsory.

To consolidated RCM in BUSY you need 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

for the check GST reports in buys please follow the below steps 
 step 1:Navigate to the GST Repor option within the display menu.
 step 2:Within the GST reports section, you'll find multiple of reports related to GST. These reports typically cover various aspects of Goods and Services Tax.