GSTN issues advisory on updating the Annual Aggregate Turnover by taxpayers.

The Goods and Service Tax Network on 4th August 2021 has issued an advisory on updating the annual aggregate turnover on the GST portal by the taxpayers.The New functionality on Annual Aggregate Turnover (AATO) was deployed on GST Portal on 27th July 2021 through which the taxpayers has been provided with the facility of turnover update in case taxpayers feel that the system calculated turnover displayed on their dashboard varies from the turnover as per their records.

This facility of turnover update shall be provided to all the GSTINs registered on a common PAN. All the changes by any of the GSTINs in their turnover shall be summed up for computation of Annual Aggregate Turnover for each of the GSTINs.

The taxpayer can amend the turnover twice within a period of one month from the date of roll out of this functionality. Thereafter, the figures will be sent for review of the Jurisdictional Tax Officer who then can amend the values furnished by the taxpayer.