Check Purchase Turnover In GST Portal Of Gst Number refers to the total value of purchases made by a business during a specific period.
The Goods and Services Tax (GST) system is a crucial part of India’s tax structure. It ensures that businesses comply with tax regulations and file accurate returns. One of the essential aspects of GST compliance is understanding your purchase turnover, as it helps in filing accurate returns and maintaining transparency. If you’re wondering how to check the purchase turnover in the GST portal of your GST number, you’ve come to the right place. In this blog, we’ll walk you through a simple guide to help you check your purchase turnover, step by step.
What is Purchase Turnover?
Before we dive into the steps, let’s first define what purchase turnover means. Purchase turnover refers to the total value of purchases made by a business during a specific period. It includes all the goods and services acquired by the business for resale or manufacturing. This turnover is essential for calculating GST credits and ensuring that businesses can claim the correct amount of input tax credit (ITC).
Why is Checking Purchase Turnover Important?
It is crucial to keep track of your purchase turnover for several reasons:
Input Tax Credit (ITC): Your purchase turnover directly impacts the amount of ITC you can claim. The more accurate your purchase turnover details are, the more easily you can claim the correct tax credit.
GST Return Filing: If your purchase turnover is not correctly reported, you could face penalties or scrutiny from the tax department.
Tax Compliance: Keeping track of your purchases ensures that you stay compliant with the tax laws and avoid unnecessary audits.
Now that we know the importance of checking purchase turnover, let’s move on to how you can do it on the GST portal.
Steps to Check Purchase Turnover in the GST Portal
Step 1: Log In to Your GST Portal Account
The first step in checking your purchase turnover is to log in to the GST portal using your credentials. Here’s how:
Go to the official GST portal at https://www.gst.gov.in.
Click on the “Login” button at the top-right corner of the homepage.
Enter your GST username and password, and click “Login.”
If you don’t have a GST account yet, you’ll need to register on the portal first.
Step 2: Navigate to the ‘Returns’ Section
Once you’re logged in, you’ll be taken to the dashboard. Here’s how to find the relevant section to check your purchase turnover:
On the left-hand side of the dashboard, click on the “Returns” tab.
Under the “Returns” tab, select “GSTR-2B” or “GSTR-2A” depending on which statement you want to check for your purchase turnover.
GSTR-2A and GSTR-2B are the key returns that reflect your purchase turnover details. GSTR-2A is auto-populated with the details of purchases, while GSTR-2B is a static statement reflecting the purchases during a specific period.
Step 3: View Your Purchase Details
Once you’ve accessed the GSTR-2A or GSTR-2B form, you can check your purchase turnover. Here’s how:
GSTR-2A will display a detailed list of all purchases, including the purchase value, tax paid, and input tax credit available.
GSTR-2B will show a summary of all purchases for the selected month or quarter.
To see the turnover:
Look for the section that displays the purchase amounts and taxes.
The total purchase turnover will be calculated and shown, reflecting all the eligible purchases made during the period.
Step 4: Download the Purchase Data (Optional)
If you need a more detailed view or wish to keep a record, you can download the purchase turnover data. Here’s how:
On the GSTR-2A or GSTR-2B page, you’ll find the “Download” button.
Click on the button, and you’ll receive a CSV or PDF file containing the purchase turnover details for your GST number.
Downloading the data can help you analyze the purchases in-depth and keep accurate records for future reference.
Step 5: Cross-Check With Your Books
Once you have the purchase turnover data, it’s essential to cross-check it with your books of accounts. Ensure that the details in the GST portal match with your purchase records and invoices. Any discrepancies could indicate errors that need correction before filing your GST returns.
Key Takeaways
Purchase turnover is the total value of purchases made by a business during a specific period.
You can check your purchase turnover by logging into the GST portal and navigating to GSTR-2A or GSTR-2B.
These statements display the purchases made during the month or quarter and are essential for accurate GST return filing.
Make sure to cross-check the data with your books of accounts for accuracy.
Troubleshooting Common Issues Check Purchase Turnover In GST Portal Of Gst Number
Sometimes, users face issues when checking their purchase turnover on the GST portal. Here are some common problems and how to fix them:
Problem 1: Missing or Incomplete Data
Solution: If your purchase data is missing or incomplete, make sure your suppliers have filed their returns correctly. You can contact them to confirm that the GST details have been uploaded.
Problems 2: Incorrect Data in GSTR-2A or GSTR-2B
Solution: If you notice discrepancies between your purchase records and the data on the GST portal, check your purchase invoices and contact your supplier to rectify the information.
Problem 3: GST Portal Login Issues
Solution: If you’re unable to log in to the GST portal, check your username and password. If you’re still facing issues, you can reset your password or contact the GST helpdesk for assistance.
Conclusion- Check Purchase Turnover In GST Portal Of Gst Number
Checking your purchase turnover on the GST portal of gst number is a simple yet essential task for any business registered under GST. By following the steps outlined above, you can easily access your purchase turnover data and ensure that your records are up-to-date and accurate. Doing so will help you maintain GST compliance, claim your input tax credits correctly, and avoid any legal issues.
If you found this guide helpful, don’t forget to share it with others in your industry who may need assistance. Stay compliant, and happy filing!
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