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November 11, 2020

GSTN Portal now displays Annual Aggregate Turnover for Previous Financial Year

by CA Shivam Jaiswal in GST

GSTN Portal now displays Annual Aggregate Turnover for Previous Financial Year

Prime Minister Narendra Modi launched GST into operation on the 1 st of July, 2017. GST was publicised as ‘one nation, one tax’ by the government, aimed to provide a simplified, single tax regime.  GST is a dual levy where the Central Government levies and collects Central GST (CGST) and the State levies and collects State GST (SGST) on intra-state supply of goods or services. Centre also levies and collects Integrated GST (IGST) on inter-state supply of goods or services. The GST Portal is a website where all the compliance activities of GST can be done before and after GST login. Activities such as the GST registration, return filing, payment of taxes, application for refund, etc. can be done on the GST Portal.

GSTN, recently launched many new features on GSTN portal. One of its features is that GSTN portal is now showing aggregate annual turnover for previous financial year after logging in to the portal.

What do you mean by aggregate turnover?

“Aggregate turnover” is the aggregate value of all taxable supplies, exports of goods or/and services or both, exempt supplies and interstate supplies of persons having the same PAN, to be computed on all India basis. However, such taxable supplies do not include the value of inward supplies on which GST is being paid under reverse charge basis. The aggregate turnover also excludes Central tax, State tax, Union territory tax, Integrated tax and cess.

Basically, sum of the following shall be considered as an aggregate turnover:

  • Value of all taxable supplies of goods and services
  • Value of all Inter-state supplies
  • Value of all exempt supplies of goods and services
  • Value of all export of goods or services or both

However, the following items would be excluded from Turnover:

  • Inward supplies on which taxes are paid under reverse charge
  • Taxes and cesses under GST
  • Interstate supply of services
  • Transactions which are neither supply of goods or service.
  • Supplies provided outside India or received outside India

The method to compute aggregate annual turnover is as follows:

Calculation of Number of GSTR- 3B eligible or liable to filed

  1. Scenario- 1: As on date Active Taxpayer and was not in composition in 2019-2020
    • All tax payers who got registered on or before 31st March 2020 are being considered.
    • If Migrated tax payer or registered on or before 30th April 2020; number of GSTR- 3B eligible or liable to be filed is fixed as 12.
    • If new tax payers registered after 30th April 2020 then number of GSTR- 3B eligible or liable to be filed is months between 31st March 2020 and date of registration.
  2. Scenario- 2: As on date Cancelled Taxpayer and was not in composition in 2019-2020.
    • All tax payers who got registered on or before 31st March 2020 are being considered.
    • Derived the cancellation w.e.f. date and the tax payers who got cancelled after 01st April 2019 are considered.
    • If cancellation w.e.f. date is beyond 31st March 2020 then cancellation w.e.f. date is considered as 31st March 2020 for calculation purpose.
    • If cancellation w.e.f. date is 1st day of the month then cancellation w.e.f. date is fixed as last day of previous months for calculation purpose.
    • If migrated tax payers or registered before 01st April 2019 then number of GSTR- 3B eligible or liable to be filed is months between cancellation w.e.f. date and 1st April 2019.
    • If new tax payer registered during 2019-2020 then number of GSTR- 3B eligible or liable to be filed is months between cancellation w.e.f. date and date of registration.
  3. Scenario- 3: As on date Active Taxpayer and was in Composition scheme for some time in 2019-2020 and opted out (withdrew) from Composition Scheme during 2019-20.
    • All taxpayers who got registered on or before 31st March 2020 are being considered.
    • Number of GSTR- 3B eligible or liable to be filed is months between 31st March 2020 and date of Opt-out/Withdrawal from Composition scheme.
  4. Scenario- 4: As on date Cancelled Taxpayer and was in Composition scheme for some time in 2019-2020 and opted out (withdrew) from Composition Scheme during 2019-2020.
    • All taxpayers who got registered on or before 31st March 2020 are being considered.
    • Derived the cancellation w.e.f. date and the tax payers who got cancelled after 01st April 2019 are considered.
    • If cancellation w.e.f. date is beyond 31st March 2020 then cancellation w.e.f. date is considered as 31st March 2020 for calculation purpose.
    • If cancellation w.e.f. date is 1st day of the month then cancellation w.e.f. date is fixed as last day of previous months for calculation purpose.
    • Number of GSTR- 3B eligible or liable to be filed is months between cancellation w.e.f date and Opt-out/Withdrawal date from Composition Scheme.

If month between comes out to be in fraction, the next highest integer is to be considered. (For e.g. 2020-03-31 and 2019-09-28 comes to 6.09 we consider it as 7).

Calculation of Number of CMP-08 eligible or liable to be filed

  1. Scenario- 1: As on date Active Taxpayer – and was in composition for full year 2019-2020
    • All taxpayers who got registered on or before 31st March 2020 are being considered.
    • Number of CMP-08 eligible or liable to be filed is months between 31st March 2020 and composition start date.
  2. Scenario- 2: As on date Cancelled Taxpayer – and was in composition for full year 2019-2020
    • All taxpayers who got registered on or before 31st March 2020 are being considered.
    • Derived the cancellation w.e.f. date and the taxpayers who got cancelled after 01st April 2019 are considered.
    • If cancellation w.e.f. date is beyond 31st March 2020 then cancellation w.e.f. date is considered as 31st March 2020 for calculation purpose.
    • If cancellation w.e.f. date is 1st day of the months then cancellation w.e.f. date is fixed as last day of previous months for calculation purpose
    • Number of CMP-08 eligible or liable to be filed is months between cancellation w.e.f date and composition start date.
  3. Scenario- 3: As on date Active Taxpayer and was in Composition scheme for some time in 2019-2020 and opted out (withdrew) from Composition Scheme during 2019-20.
    • All taxpayers who got registered on or before 31st March 2020 are being considered.
    • Number of CMP-08 eligible or liable to be filed is months between date of Opt-out/Withdrawal from Composition scheme and composition start date.
  4. Scenario- 4: As on date Cancelled Taxpayer and was in Composition scheme for some time in 2019-2020 and opted out (withdrew) from Composition Scheme during 2019-20.
    • All tax payers who got registered on or before 31st March 2020 are being considered.
    • Derived the cancellation w.e.f. date and the tax payers who got cancelled after 01st April 2019 are considered.
    • If cancellation w.e.f. date is beyond 31st March 2020 then cancellation w.e.f. date is considered as 31st March 2020 for calculation purpose.
    • If cancellation w.e.f. date is 1st day of the month then cancellation w.e.f. date is fixed as last day of previous months for calculation purpose.
    • If cancellation w.e.f. date is prior to Opt-out/Withdrawal date from Composition then number of CMP-08 eligible or liable to be filed is months between cancellation w.e.f. date and Composition Start date.
    • If cancellation w.e.f. date is post Opt-out/Withdrawal date from Composition then number of CMP-08 eligible or liable to be filed is months between Opt-out/Withdrawal date and Composition start date.

If month between comes out to be in fraction, we consider the next highest integer (For e.g. 2020-03-31 and 2019-09-28 comes to 6.09 we consider as 7). Further, CMP-08 being a quarterly return/statement, the output has been divided by 3.

Extracted GSTIN-wise Number of GSTR- 3B filed and Turnover declared in GSTR-3B

Number of GSTR-3B filed by the tax payer for the FY 2019-2020 and turnover declared in GSTR- 3B have been calculated.

Extracted GSTIN- wise Number of CMP-08 filed and Outward supply declared in CMP-08

Number of CMP-08 filed by the tax payer for the FY 2019-2020 and outward supply declared in CMP-08 have been calculated.

Extrapolation of Turnover at GSTIN level (for those who have not filed all the returns as per their eligibility or liability)

  1. GSTIN-wise GSTR-3B turnover for FY 2019-2020 has been extrapolated by the formula: >> Total turnover declared as per all GSTR-3B filed / No. of GSTR-3B filed) X No. of GSTR-3B eligible or liable to be filed
  2. GSTIN-wise CMP-08 outward supply has been extrapolated by the formula: >> Total outward supply declared as per all CMP-08 filed / No. of CMP-08 filed) X No. of CMP- 08 eligible or liable to be filed
  3. Added both the values of S. No. (a) and S. No. (b).

For those taxpayers who have filed all the returns as per their respective eligibilities, value of S. No. (c) will be the actual turnover)

Aggregation of extrapolated turnover at PAN level or Annual Aggregate Turnover

Resultant values as per S.No. (c) above are aggregated or rolled up at PAN level to arrive at the Annual Aggregate Turnover.

What is the relevance of knowing one’s aggregate turnover?

The aggregate turnover is a crucial parameter for determining the following aspects:

Determining whether registration is required or not-

  • Aggregate Turnover is relevant for a person to determine threshold limit to obtain registration under GST.
  • Threshold turnover limit for exclusively supply of goods = Rs 40 lakh (Rs 20 lakh in case of supplies effected from special category states)
  • Threshold turnover limit for supply of Services or (goods and services both): Rs 20 lakh (Rs 10 lakh in case of supplies effected from special category states)

Determine the limit of composition levy – Threshold limit to opt for composition scheme: Rs 1.5 crore in a financial year (Rs 75 lakh in case of supplies effected from special category states).

To determine a “Taxable person” – Section 2 of CGST Act defines the “taxable person” as a person who has obtained registration or is liable to register as per section 22 and 24 of CGST Act. Here the Section 22 provides a liability to register when the tax payer’s turnover exceeds the limit as determined in certain cases. This is again based on aggregate turnover.

Calculation of Late fee –

  • Under section 33 any registered taxable person person who fails to file the return u/s 30 i.e Annual return shall be liable to pay late fees of Rs. 100 for every day when such failure continues subject to a maximum of an amount of 0.25% of his aggregate turnover.
  • This can escalate the amount of late fee because aggregate turnover will include all supplies except reverse charge.

To determine whether Audit is required – Registered persons with an aggregate turnover exceeding the prescribed GST audit limit of Rs 2 Crore during a financial year are liable for GST Audit. The turnover limit of Rs 2 Crore is same for the registered tax persons across all States and UTs. Thus, no separate turnover limit is defined for Special Category States for GST Audit.

Therefore, it is advised to carry on the computation of aggregate turnover accurately as the same will be used at a number of places which will in turn determine the tax liability of a person.

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