How to Get Total Purchases from GST Portal: Who Can Access Total Purchases on the GST Portal?

Are you a business owner or accountant struggling to get your total purchases from the GST portal? Well, worry no more! In this guide, we’re going to break it all down in a way that’s easy to understand and fun to read (yes, we promise!). Getting total purchases from the GST portal is key for filing your taxes correctly and ensuring your business stays compliant. Let’s dive in and make it simple!

What is GST and Why Do You Need to Check total purchases from GST portal? 

Before jumping into the “how” of getting total purchases, let’s take a quick look at what GST is. GST (Goods and Services Tax) is a tax system that businesses need to comply with when buying or selling goods and services. If you’re a GST-registered business, you need to keep track of all your purchases and sales to file accurate tax returns.

The total purchases you make will be used to calculate the Input Tax Credit (ITC), which helps reduce your tax liability. Sounds like a lot of numbers, right? But don’t worry – we’ve got your back!

Step-by-Step Guide: How to

Get total purchases from GST portal

Let’s break it down step by step, so you can get that total in no time. Trust us, it’s easier than you think!

Step 1: Log into Your GST Portal Account

First things first, to access all your GST-related details, you need to log into your account on the GST portal. You can do this by visiting www.gst.gov.in.

• Enter your Username and Password.

• If you’ve forgotten your login credentials, don’t panic! You can easily recover them by following the instructions on the portal.

Once you’re logged in, you’ll be directed to your GST dashboard, where all the magic happens.

Step 2: Go to the ‘Returns’ Section

Now that you’re on your GST dashboard, look for the “Returns” tab in the menu. This is where all your filing details are stored, including information about your purchases, sales, and input tax credit.

Click on “Returns” and select “GSTR-2A.” This form will give you an overview of your total purchases. It’s the document that shows the details of all purchases made from GST-registered suppliers.

Step 3: Filter Your Data

Once you’re in the GSTR-2A section, you’ll see an option to filter your data by dates. This is super helpful when you want to see the total purchases for a specific period (monthly, quarterly, or yearly).

• Select the financial year and month for which you need the data.

• Hit Apply, and the system will load the details of your purchases for that time period.

You’ll now have a complete breakdown of all the purchases made, with details about the suppliers, invoice numbers, and the amount of GST paid.

Step 4: Check the Total Purchases

After filtering, scroll down to the section that summarizes your total purchases. This is where the magic happens – you’ll see a total value of all your purchases, including GST paid. This is the number you’ll need to file your returns!

Step 5: Download the Data for Your Records

Once you’ve checked the total purchases, you can download the data for future reference or for filing your tax returns. It’s always a good idea to keep a record of all your transactions.

Look for the “Download” button at the top of the page and choose the format (usually, a PDF or Excel sheet) that works best for you.

Why is Tracking total purchases from GST portal Important?

You might be thinking, “Why all this trouble?” Well, tracking your purchases through the GST portal is essential for several reasons:

• Input Tax Credit (ITC): As mentioned, your total purchases directly affect how much ITC you can claim. More purchases = more chances to reduce your tax liability.

• Compliance: Being accurate with your total purchases ensures that your tax returns are correct. It helps avoid any penalties or legal issues.

• Financial Clarity: By keeping track of all your purchases, you can get a clear picture of your business expenses, which helps with budgeting and financial planning.

Common Mistakes to Avoid While Checking  total purchases from GST portal

We get it – dealing with taxes can be a little overwhelming. But here are some common mistakes to avoid while using the GST portal to check your total purchases.

Forgetting to Match Purchases with Invoices

It’s easy to miss invoices when you’re juggling multiple transactions. But every purchase you make should match with a corresponding invoice in your records. Always double-check that your GSTR-2A aligns with your purchase invoices.

Ignoring Data Reconciliation

Sometimes, the data on the GST portal might not match the actual invoices. This can happen due to errors from suppliers or even technical glitches. Make sure to reconcile your purchases with the data on the portal to avoid discrepancies.

Not Updating Your GST Portal Details

If you’ve recently updated your business details or changed your GSTIN, make sure your portal information is up to date. Outdated data can lead to inaccurate purchase totals.

Overlooking the Timeline

When checking your total purchases, make sure you’re looking at the right date range. Filtering by the correct financial year and month is crucial for accurate data.

What if My Data Doesn’t Match?

If you find any discrepancies between your purchases and the GST portal data, it’s important to address them immediately. Sometimes, a supplier may forget to upload their invoices, or there may be errors in your own accounting system. Either way, it’s best to follow up and correct any mismatches before filing your returns.

You can also reach out to the GST Helpdesk for assistance if the issue persists.

Can I Access My total purchases from GST portal Anytime?

Yes! Once you’ve logged into your GST portal account, you can access your total purchases at any time. The data is available for download whenever you need it, making it easy to keep track of your business expenses year-round.

How to Use the Data for Filing Your GST Returns

When it’s time to file your GST returns, you’ll use the total purchases you get from the GST portal to calculate your Input Tax Credit. This credit reduces your overall tax liability, making it easier to pay less tax. All the data you need for filing, including details about GST paid on purchases, will be found in your GSTR-2A and other relevant forms.

In Conclusion: total purchases from GST portal

Getting your total purchases from the GST portal doesn’t have to be a stressful process. Just follow these simple steps and stay on top of your purchases. Doing so will not only help you claim your ITC but will also keep your business compliant with tax laws.

So, next time you’re wondering how to get your total purchases from the GST portal, just log in, filter, and download your data – it’s that easy! Remember, keeping your records updated is the key to a smooth and hassle-free GST filing experience.