Tax Reports

Tax Reports are generated for the reporting period you select while setting up VAT for your organization. These reports are generated based on all your sales and purchase transactions, and are in compliance with OTA standards.

VAT Return

A VAT Return Report summarises the VAT collected on sales and the VAT paid on purchases during a specific tax period. It helps you review your VAT liability and file your VAT returns accurately with the tax authority.

To view this report:

Go to Reports on the left sidebar.
Select VAT Returns under Taxes.

This report contains the following columns:

Column	Description
Status	Indicates whether the VAT return has been filed.
VAT Returns	Displays the filing period for which the VAT return was generated.
Filed On	Displays the date on which the VAT return was marked as Filed.
Total Tax Payable	Displays the total VAT amount payable to the tax authority for the filing period.
Total Tax Reclaimable	Displays the total VAT amount that can be reclaimed or carried forward as a VAT credit for the filing period.
Balance Due	Displays the outstanding VAT payable amount or the reclaimable VAT balance associated with the return.

You can click a VAT Return to view its detailed summary. When you select a VAT return, the report displays the following sections:

VAT on Sales

This section displays the VAT collected on your sales transactions for the selected filing period. Any adjustments made to previously reported sales transactions are also displayed here.

VAT on Purchases

This section displays the VAT paid on your purchases and expenses for the selected filing period. Any adjustments made to previously reported purchase transactions are also displayed here.

Net VAT Due

This section displays the vat payable or recoverable amount for the selected filing period.

Generate VAT Returns

You can generate a VAT return for a filing period and review the tax details before filing it. To generate a VAT return:

Go to Reports on the left sidebar.
Select Tax Returns under Taxes.
Click Generate VAT Return on the top right corner.

In the Tax Return Reporting Period pop-up, select the Start Date and End Date for which you want to generate the tax return and click Generate.

Note:You cannot generate a new tax return until you mark the previous return as filed.

Mark the Tax Return as Filed

After filing your VAT return with the tax authority, you can mark it as filed in Zoho Books.

To mark a VAT return as filed:

Go to Reports on the left sidebar.
Select Tax Returns under Taxes.
Click a VAT Return.
In the next page, review the tax details and click Mark as Filed on the top right corner.

In the File Tax Return pop-up that appears, select the Date of Filing.
Check the Carry Forward Reclaimable Amount option to carry forward the reclaimable VAT amount from the current return to the next VAT filing period.
Click OK to confirm.

Tax Reports

Note:Marking a return as filed only updates its status in zoho books. You must submit the vat return separately to the tax authority.

Record a VAT Claim

If your VAT return results in a negative Net VAT Due amount, indicating a VAT credit, you can record a VAT claim to reclaim the amount from the tax authority. Here’s how:

Go to Reports on the left sidebar.
Select Tax Returns under Taxes.
Click the dropdown next to the VAT Return for which you want to record a VAT claim, and select Record Claim.

In the pop-up that appears:
- Select the account to which the claim is Deposit To.
- Select the Payment Date.
- Enter the Amount Reclaimed.
- Select the Location.
- Click Save.

Record a VAT Payment

If your VAT return results in a positive Net VAT Due amount, indicating VAT payable, you can record a payment for the return. Here’s how:

Go to Reports on the left sidebar.
Select Tax Returns under Taxes.
Click the dropdown next to the VAT Return for which you want to record a VAT Payment, and select Record Payment.

In the pop-up that appears:
- Select the Paid Through account.
- Select the Payment Date.
- Enter the Amount Paid.
- Select the Location.
- Click Save.

Taxpayer Checklist Report

The Taxpayer Checklist Report contains detailed VAT-related transactions recorded during a specific period. You can use this report to review the transactions included in your vat returns and maintain records required for audit purposes.

To view your Taxpayer Checklist Report:

Go to the Reports on the left sidebar.
Select Taxpayer Checklist Report under Taxes.

The report contains the following columns:

Column	Description
Start Date	The start date of the period included in the Taxpayer Checklist audit file.
End Date	The end date of the period included in the Taxpayer Checklist audit file.
Generated By	The user who generated the Taxpayer Checklist audit file.
Generated Date	The date on which the vat file was generated.
Audit File	Download the generated Taxpayer Checklist audit file for the selected audit period.

Generate Taxpayer Checklist Report

You can generate a VAT audit file for a specific time period. Here’s how:

Go to the Reports on the left sidebar.
Select Taxpayer Checklist Report under Taxes.
Click Generate Audit File in the top right corner.

In the Generate Audit File pop-up, select the VAT Return for which you need your audit file to be generated and click Generate.

The file may take a few minutes to generate. During this time, its status will be displayed as Generation in Progress. Once the file is generated, the status will change to Download, and you can download it in XLSX format. Here’s how: