IRD VAT Return

The IRD VAT Return report prepares the monthly VAT return (अनुसूची-१०) that every VAT registered business must file within 25 days of the Nepali month end, even with no sales. It totals taxable, exempt and export sales from the Sales Book, taxable purchases and imports from the Purchase Book, output VAT collected on sales and input VAT paid on purchases, and nets them: a positive figure is payable to IRD, a negative one is a credit carried forward. In the demo, VAT collected is Rs 8,320 and Rs 4,160 has already been remitted, leaving VAT Payable at Rs 4,160. Filing late attracts interest and penalties, so reconcile the Sales Book and Purchase Book before trusting this report.

Net VAT = Output VAT on sales - Input VAT on purchases (+ debit notes - credit notes); payable if positive, carried forward if negative

1. 01Finish the month: every Sales Invoice, Purchase Invoice and return submitted and synced to CBMS.
2. 02Go to Nepal IRD > VAT Return and set Company and the Nepali month.
3. 03Read Taxable Sales, Exempt Sales, Export, Output VAT, Taxable Purchases, Input VAT and Net VAT.
4. 04Compare Output VAT with the Sales Book total and Input VAT with the Purchase Book total.
5. 05File the return on the IRD taxpayer portal within 25 days of month end using these figures.
6. 06Pay the net amount with Payments > Payment Entry, Payment Type Pay, against VAT Payable.
7. 07Tick the VAT return item in the Nepal IRD > Monthly Close for the month.

Open after each Nepali month ends; the return is due within 25 days.

VAT collected Rs 8,320, remitted Rs 4,160, net VAT Payable Rs 4,160.