VAT return

A VAT return is a form you fill out and send to the tax authorities to show how much VAT you charged your customers and how much VAT you paid on your business purchases. It calculates the difference between the VAT you owe and the VAT you can reclaim. If you collected more VAT from sales than you paid on purchases, you pay the extra to the government. If you paid more VAT on purchases, you can ask for a refund. This helps keep track of the VAT your business must pay or reclaim regularly.

Learn how to file VAT returns in Zoho Books by referring to our help documentation.