The GSTN implemented a new feature called Annual Aggregate Turnover (AATO) from FY 2021-22. This functionality has been integrated into taxpayers' dashboards, providing them with enhanced capabilities. Taxpayers can now conveniently access and review their AATO directly from their dashboard upon logging in
As per section 2(6) of the CGST Act, 2017, "aggregate turnover" means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, exports of goods or services or both and inter-State supplies of persons having the same Permanent Account Number, to be computed on all India basis but excludes central tax, State tax, Union territory tax, integrated tax and cess.
Turnover reported in GSTR-3B Column 2 of Table 3.1 { (a),(b),(c) & (e)} during the Financial Year 2020-21 have been taken into consideration (in case all the returns have been filed for the same).
The following formula is used for extrapolation of turnover:
(Sum of taxable value) X (*No.of GSTR-3B liable to be filed)/(No. of GSTR-3B filed)
*Categorisation of taxpayers to derive the number of GSTR-3B liable to be filed
For Composition Taxpayers opted-in throughout the FY: Since the Annual Aggregate Turnover limit for opting-in as a Composition Taxpayer is up to Rs. 1.5 crore, and will use the following extrapolation formula:
(Sum of taxable value) X (*No. of CMP-08 liable to be filed)/ (No. of CMP-08 filed)
Advisory on AATO functionality suggests to read the following advisory carefully before proceeding ahead:
Note: Taxpayers are expected to use this functionality only if they observe a discrepancy in the system-calculated turnover as per the calculation logic mentioned above.
The Annual Aggregate Turnover (AATO) update functionality proves exceedingly beneficial as it meticulously showcases the Pan-based turnover data of a duly registered person.
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