The monthly VAT return in summary form. Sales and purchases are split into local, export or import, taxable and exempt, with the VAT on each. Then come the net VAT for the month, what was brought forward and what has been paid.
When to use it
Every month when you prepare the return. At year end, to see the twelve months side by side before the annual reconciliation.
Before you start
- The month's bills are recorded in the VAT register and classified.
- Any VAT payments for earlier months are recorded. Otherwise the brought-forward figure will be wrong.
- You need permission to open the Statutory reports.
Where to find it
It is in two places:
- Reports > Statutory Reports > VAT Reports > VAT Maskebari Summary.
- The Reports panel, under Tax & Compliance, as VAT Return (Maskebari). The printable form is on the Maskebari (IRD Form) card beside it.
The fields on this screen
| Filter (on screen) | What to enter | Required |
|---|---|---|
| Fiscal Year | The Nepali fiscal year this report covers, for example 2083/84. | No |
| BS Month | The Nepali (BS) month the return covers. Leave it blank to include every month of the year. | No |
| Site | Limits the return to one site. Leave it blank to cover the whole company. | No |
How it works
The report gathers the VAT register lines for each month and adds them up into the boxes the return asks for. VAT Net is the month's VAT on sales less the VAT on purchases.
Opening VAT is what was left over from the earlier months of that year: everything owed up to that point less everything paid. It carries forward by itself, so you do not enter it. VAT Paid comes from the payment lines, the same ones the VAT Payment Register lists.
Tips and common mistakes
- The report gives one row per site per month, not one row per month. A company with six sites gets six rows for Ashwin. Pick a site, or add the rows up yourself, before you copy a figure onto the return.
- Several money columns share a heading. There is a VAT column and an exempt column under local sales, under exports and under the sales total, and the same again for purchases. Count across from the block heading; do not trust the first match.
- Opening VAT only makes sense read in month order within one fiscal year. If you filter to a single month, it still shows the figure carried into that month.
- The menu version has no fiscal year box, and its Month box does not narrow the list, so it always shows every month. Use the Reports panel version when you need one month.
- The figures are only as good as the classification on each bill. A wrongly classified bill lands in the wrong box here with no warning.
Related guides
- VAT Register (report), VAT Register (entry), VAT Payment Register, Sales Register (VAT).