Check Sales Turnover Of Gst Number is the total value of goods and services sold by a business over a specific period.
When you run a business, understanding your sales turnover is essential for compliance, growth, and financial management. For businesses registered under the Goods and Services Tax (GST) regime, it’s important to regularly check your sales turnover for a GST number to ensure you are meeting legal requirements. But how do you go about it? In this blog, we will guide you step-by-step on how to check the sales turnover of a GST number.
What Is Sales Turnover?
Sales turnover is the total value of goods and services sold by a business over a specific period. For businesses that are GST-registered, the turnover is closely monitored as it determines whether you are required to file returns, pay taxes, or avail of specific GST exemptions.
In simpler terms, it’s the sum of all the sales a business makes before deducting expenses, taxes, or discounts. It helps measure the business’s ability to generate revenue from its core operations.
Why Is Checking Sales Turnover Important for Your GST Number?
Knowing your sales turnover isn’t just for tax purposes. It plays a vital role in determining the following:
GST Liability: Your sales turnover helps in determining the applicable GST rates. A higher turnover might require you to comply with different GST rules.
Filing Returns: The sales turnover determines the frequency with which you need to file GST returns.
Eligibility for Exemptions: If your turnover falls below a certain threshold, you may be exempt from some GST rules.
Audits: A business with a higher turnover is more likely to be audited, so keeping track of your sales turnover can ensure smooth operations.
How To Check Sales Turnover Of Your GST Number?
1. Use the GST Portal
The GST Portal is the official government platform where businesses can access all GST-related details. Checking your sales turnover here is easy and straightforward.
Step-by-Step Process:
Visit the GST Portal: Go to www.gst.gov.in.
Login to Your Account: Enter your GSTIN (GST Identification Number), username, and password.
Access Sales Data: Once logged in, navigate to the “Returns” tab. Here, you will find the “GSTR-1” (for outward supply) and “GSTR-3B” (summary returns) filed by you.
View Turnover: The data will provide a detailed report of your sales turnover. It includes the total amount of sales or supplies made during the reporting period.
2. Check Your GSTR-3B Returns
GSTR-3B is the summary return filed by GST-registered businesses. This return captures the summary of sales, input tax credit (ITC), and tax liabilities.
Here’s how you can check your sales turnover through the GSTR-3B return:
Log into your GST account on the portal.
Go to “Returns” and select GSTR-3B for the period you want to check.
The sales turnover will be reflected in the sales section of the GSTR-3B form under “Outward Supplies”.
This gives you a clear picture of your total turnover and whether you’re meeting the required limits for filing returns.
3. Analyze Your GSTR-1 Report
The GSTR-1 report shows all outward supplies made by your business. It includes sales data, customer information, and GST details.
Go to the “Returns” section in the GST portal.
Select GSTR-1 and choose the period you want to check.
The turnover data is displayed here as well, showing detailed breakdowns of sales by tax rate (SGST, CGST, IGST).
This is an essential report for any business, as it details both the taxable and non-taxable sales made under your GST number.
How To Calculate Sales Turnover from GST Data?
If you’re looking to manually calculate your sales turnover based on the available data, here’s a simple method you can follow:
Sum Up All Outward Supplies: Add up all your sales figures for the given period (as reported in GSTR-1 or GSTR-3B).
Include Taxable Sales: Make sure to include the total sales that are subject to GST (excluding exempt sales).
Check for Exemptions: If your turnover is below the prescribed limit, check if you are eligible for exemption or if you qualify for a simplified return.
The turnover is calculated before deducting taxes, so don’t subtract GST amounts in your calculations unless they are part of the exemption scheme.
What If Your Sales Turnover Is Below The GST Threshold?
If your sales turnover is below the GST threshold, you might not need to register for GST at all. The government provides exemptions for small businesses. As of now, the threshold for GST registration is:
₹40 lakhs for service providers.
₹20 lakhs for goods suppliers (₹10 lakhs for special category states).
If you fall below these limits, you won’t be required to pay GST or file returns unless you opt for voluntary registration.
How To Maintain Sales Turnover Records For GST Compliance?
To ensure your records are in order and help with future audits or verification, it’s crucial to keep detailed sales records. Here are some tips:
Use Accounting Software: Tools like QuickBooks or Tally help businesses track turnover automatically by integrating with your GST returns.
Stay Organized: Keep your invoices, receipts, and transaction records updated. This will make checking your turnover easier.
Regular Audits: Conduct periodic audits of your records to ensure everything is accurate and up-to-date.
Final Thoughts
Checking the sales turnover of your GST number is essential for staying compliant with the tax regulations and managing your business finances effectively. By regularly monitoring your turnover through the GST portal and GSTR reports, you can ensure your business is on track and avoid costly mistakes.
The process is straightforward, and understanding your sales turnover helps in making informed decisions about taxes, filings, and future business planning. Stay organized, use the right tools, and keep an eye on your turnover to make sure your business is GST-compliant!
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