VAT Return

The VAT Return, form अनुसूची-१० on the taxpayer portal, is the monthly declaration of every taxable, zero-rated and exempt sale and purchase, the output VAT, the input VAT and the net amount due. It must be filed and paid within 25 days of the Nepali month end even when the figures are nil, and late filing attracts a fee plus interest on unpaid tax. BRAccount's IRD VAT Return report builds the figures from submitted Sales Invoices and Purchase Invoices for the chosen Nepali month, in the same boxes as the form, so the job is to agree it with the Sales Book, Purchase Book and the two VAT ledgers, type the numbers into the portal, pay, and record the payment.

Net VAT payable = Output VAT on sales - Input VAT on purchases; if negative, the credit carries forward.

1. 01Finish posting every sale and purchase of the month, then run Nepal IRD > Monthly Close.
2. 02Open Nepal IRD > VAT Return and set the Nepali month, for example Bhadra 2083.
3. 03Read taxable sales, output VAT, taxable purchases, input VAT and the net payable line.
4. 04Agree output VAT with the Sales Book and input VAT with the Purchase Book for the same month.
5. 05Log in to the IRD taxpayer portal, enter the figures in अनुसूची-१० and submit before the 25th day after month end.
6. 06Pay the net amount, then post a Journal Entry debiting VAT Payable and crediting the bank, as above.

Open the IRD VAT Return report, check it against the Sales Book and Purchase Book, then file on the taxpayer portal.

For Bhadra 2083 the return shows output Rs 8,320, input Rs 0, net payable Rs 8,320.