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How to Check Annual Turnover in GST Portal

Updated on: 27 May, 2024 03:02 PM

The annual turnover of a business refers to the overall revenue generated from its sales and supplies throughout a fiscal year. This financial metric holds significant importance, especially for enterprises operating under the Goods and Services Tax (GST) system. It plays a crucial role in ascertaining the tax liability of a GST-registered business, influencing its tax slab, and determining its compliance structure. The annual turnover serves as a key factor in establishing varying tax rates, filing frequencies, and regulatory obligations based on the business's turnover level. Therefore, it is crucial for businesses to actively monitor and effectively manage their annual turnover to ensure adherence to tax regulations and facilitate streamlined financial operations.

To make this process easier, the GST portal has launched a new feature that allows taxpayers to view and update their annual turnover information. This feature improves transparency and efficiency, enabling businesses to maintain correct records and follow tax rules smoothly. The GST portal provides a simple and convenient interface for taxpayers to check and change their annual turnover details, which helps to avoid mistakes and ensure compliance. This is a significant step towards making the tax reporting and filing process easier for GST-registered businesses and creating a more user-friendly and responsive tax system.

What is Annual Aggregate Turnover or Annual Turnover?

"Aggregate turnover" means the cumulative value of all taxable supplies, including exports of goods and/or services, exempt supplies, and interstate supplies, about entities sharing the same PAN, and is calculated on an all-India basis. It is essential to note that this calculation excludes the value of inward supplies subject to GST under the reverse charge mechanism. Additionally, the aggregate turnover does not encompass Central tax, State tax, Union territory tax, Integrated tax, and cess.

In essence, the aggregate turnover comprises the summation of the following components:

  • Value of all the goods and services that are taxed.
  • Value of all Inter-state supplies.
  • Value of all exempt pools of goods and services.
  • Value of all exports of goods or services or both.

However, certain items are expressly excluded from the turnover calculation:

  • Inward supplies attract taxes under reverse charge.
  • Taxes and cesses levied under GST.
  • Interstate supply of services.
  • Transactions that do not qualify as the supply of goods or services.
  • Supplies made outside India or received from outside India.

How to View Annual Turnover on GST Portal: A Step-by-Step Guide

  • Go to the GST Portal and log in using your login credentials.
  • After logging in, you will see your dashboard with various tabs and options. Click on the ‘Services’ tab and then select ‘Returns Dashboard’ from the drop-down menu. GST Portal
  • On the Returns Dashboard page, you will see a table with different return types and periods. Select the financial year and the return type as GSTR-9 (Annual Return) and click on ‘Search’. Select the financial year
  • You will see a list of GSTR-9 returns filed by you for the selected financial year. Click on the ‘View’ button under the ‘Action’ column for the return you want to view. GSTR-9 returns
  • You will be redirected to the GSTR-9 Annual Return page, where you can see various details of your annual turnover, tax liability, input tax credit, and other information. To view your annual turnover, you can look at the following tables:
    • Table 4: Summary of advances, inward, and outward supplies with applicable tax in the financial year.
    • Table 5: Overview of outward supplies without tax liability in the financial year.
    • Table 6: Breakdown of Input Tax Credit (ITC) availed during the financial year.
    • Table 7: Details of ITC reversed and ineligible ITC for the fiscal year.
    • Table 8: Additional information related to ITC.
    • Table 9: Overview of tax paid, as declared in returns filed during the financial year.
    • Table 10: Summary of transactions from the previous financial year reported in the returns of the current financial year.
    • Table 11: Differential tax paid due to declarations in Table 10.
    • Table 12: Particulars of transactions from the previous financial year reported in returns from April to September of the current financial year or the filing date of the annual return for the previous financial year, whichever is earlier.
    • Table 13: Differential tax paid due to declarations in Table 12.
    • Table 14: Amendments to information provided in returns for earlier tax periods in Tables 4, 5, 6, 7, 8, and 9.
    • Table 15: Differential tax paid due to amendments in Table 14.
    • Table 16: Breakdown of demands and refunds.
    • Table 17: Details of supplies received from composition taxpayers, deemed supply under section 143, and goods sent on an approval basis.
    • Table 18: HSN-wise summary of outward supplies.
    • Table 19: HSN-wise summary of inward supplies.
  • The calculation of annual turnover for the previous and current financial years is as follows:
    • Annual turnover for the previous financial year: Sum of values in Tables 4, 5, 10, and 12, minus the values in Tables 7 and 14.
    • Annual turnover for the current financial year: Sum of values in Tables 4, 5, and 14, minus the values in Table 7.

Frequently Asked Questions

Q- Why is it important to check annual turnover on the GST Portal?

Checking annual turnover on the GST Portal is crucial for businesses to ensure compliance with GST regulations. It helps in determining eligibility for different GST slabs and schemes.

Q- Can I check the annual turnover for previous financial years on the GST Portal?

Yes, the GST Portal allows you to check the annual turnover for previous financial years. Simply select the desired financial year while navigating through the 'Annual Returns' section.

Q- Can I download or print the information related to my annual turnover from the GST Portal?

Yes, the GST Portal allows you to download or print the relevant information related to your annual turnover. Look for the download/print option within the 'Annual Returns' section.

Q- Are there any penalties for not checking or updating annual turnover information on the GST Portal?

While there may not be specific penalties for not checking, it is essential to keep your annual turnover information updated for accurate GST compliance. Non-compliance with GST regulations may lead to penalties during audits.

Q- Can I authorize someone else to check the annual turnover on my behalf?

Yes, you can authorize someone, such as a tax consultant or accountant, to check the annual turnover on your behalf. Ensure that they have the necessary authorization and access credentials.

CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.