7/27/2019 Understanding VAT returns for Small Businesses

1/16

XFEHY\UDFEJFG RDU BMY

\ADKK IX\JFH\\H\0

DXGX\U 9>4

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

Uch prjfljpkhs

RDU stdfes bmrRdkuh Deehe Udx

RDU js d bmra mb jfejrhlt tdxdtjmf

\tdfedre rdthe RDU thfes tm ih mf tch ad`mrjty mb shrvjlhs dfe prmeults tcdt

drh shhf ds ejslrhtjmfdry - fmf!hsshftjdk purlcdshs

^rjfljpkhs

Cmw jt wmros

bmr RDU rhgjsthrhe

lmapdfjhs

RDU js euh tm CAYL mf lhrtdjf sdkhs #mutputs* dfe rhlmvhrdikh brma CAYL

mf lhrtdjf purlcdshs #jfputs*&

RDU rhgjsthrhe hftjtjhs cdvh d euty tm lmapkhth RDU rhturfsusudkky qudrthrky RDU rhturfs fmw suiajtthe mfkjfh #pdphr rhturfs fm kmfghr dllhpthe*

^rjfljpkh js tcdt jb mutput tdx hxlhhes jfput tdx+ tch iusjfhss pdys tch hxlhss

tm CAYL+ iut hqudkky jb jfput tdx js khss tcdf mutput tdx d rhbufe js euh

\tdfedre RDU rdth js 9>( dfe js pdydikh mf amst mb prmeults dfe shrvjlhs

Uchrh js dksm d >( RDU rdth #zhrm!rdthe* mf lhrtdjf jthas j&h& Lcjkerhfs lkmtchs \mah shrvjlhs drh hxhapt h&g& jfsurdflh

\mah jthas cdvh d ejbbhrhft rdth h&g& 8( rdth bmr tch suppky mb hkhltrjljty

Cmw jt wmros

bmr lmfsuahrs

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

RDU ijkk js uktjadthky pjlohe up iy tch lmfsuahr?

Iut lmkkhlthe jf stdghs tcrmugcmut tch suppky lcdjf

WCMKH\DKHY ADFXBDLUXYHY LMF\XAHY

Gdjk lcmps emwf d trhh

dfe turfs jt jftm tjaihr

\ch shkks jt tm Mkkjh bmr

5>> / RDU

5>> js Gdjks jflmah 3> js RDU pdydikh

Mkkjh turfs tch tjaihr

jftm d smbd

Ch shkks jt tm Eufldf bmr

4+>>> / RDU

4+>>> js Mkkjhs jflmah 9>> js RDU pdydikh

YHUDJKHY

Eufldf rufs d burfjturh

scmp

Ch shkks jt bmr 9+>>> /

RDU

9+>>> js Eufldfsjflmah

5>> js RDU pdydikh

Uch lmfsuahr pdys

9+5>>

Ihldush ch js fmt RDUrhgjsthrhe+ ch ldft

rhlkdja tch tdx

CAYL

^dje0 3>

Yhlkdjahe0 >

CAYL fht0 3>

CAYL

^dje0 9>>

Yhlkdjahe0 3>

CAYL fht0 49>

CAYL

^dje0 5>>

Yhlkdjahe0 9>>

CAYL fht0 9>>

CAYL

^dje0 5>>

Yhlkdjahe0 >

CAYL pdje iy rhtdjkhr

5>> lmkkhlthe jf < stdghs

tcrmugcmut tch suppky lcdjf

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

Tujz0 Xsjfg tch prjfljpkh mb RDU ihjfg dppkjhe tm fmf!hsshftjdk jthas+

dkkmldth tchsh tm \tdfedre rdthe+ Phrm rdthe+ hxhapt dfe mutsjeh tch slmph

Dfe tch dfswhrs drh

Fhwspdphrs

Brujt " Rhghtdikhs

Ahdk dt d rhstdurdft

\dkdrjhs

Heuldtjmf

^DZH

Ldohs

Ijslujts

Dllmuftdfly

Yhsjehftjdk rhftDklmcmk

Wdthr ^mstdgh stdaps

Lcdrjtdikh emfdtjmfs

Cmt bmmeLmke bmme

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

Dfswhrs

\UDFEDYE YDUHE PHYM YDUHE HSHA^U MXU\JEH UCH \LM^H

Fhwspdphrs

Brujt " Rhghtdikhs

Lmke bmme

Ijslujts

Ahdk dt d rhstdurdft

^mstdgh stdaps \dkdrjhs

Dllmuftdfly

^DZHYhsjehftjdk rhft

Dklmcmk Wdthr

Heuldtjmf Lcdrjtdikh emfdtjmfs

tdxhe

hkshwchrh

\m cmw drh Phrm Ydthe jthas dfe Hxhapt jthas trhdthe mf d RDU rhturf=

Cmt bmme Ldohs

ejslrhtjmfdry

jthas

hsshftjdk

jthas

ldsc!kjoh

jthas#/ heuldtjmf*

Urjvjd0 Jf 4::4 CAYL dtthapthe tm rhlkdssjby @dbbd Ldohs ds ijslujts& Uchy kmst dfe tcdfobukky @dbbd Ldohs drh stjkk RDU brhh&

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

Lmapdfjhs tcdt mfky suppky RDU hxhapt prmeults mr shrvjlhs

ldffmt rhlkdja RDU mf tchjr hxphfshs

Fmradk RDU

rhgjsthrhe iusjfhss

^DZ\ RDU MF0 YHLKDJA\ RDU MF0 HSDA^KH0

Dkk prmeults dfe

shrvjlhs

Dkk suppkjhs dfe

hxphfshs wcjlc drh

stdfedre rdthe

Burfjturh rhtdjkhr cdfejfg mvhr

RDU mf lmfsuahr purlcdshs

iut rhlkdjajfg RDU mf lmst mb

gmmes smke

Iusjfhss tcdt

suppkjhsRDU hxhapt

prmeults

Fmtcjfg Fmtcjfg #fmt dkkmwhe

tm rhlkdja RDU mffmradk stdfedre

rdthe jthas*

Lmapdfy sht up sui!kht

rhsjehftjdk prmphrty h&g& fmtRDU pdje mf sui!rhft+ iut

ldffmt rhlkdja RDU mf fmradk

mbbjlh hxphfshs

Iusjfhss tcdt

suppkjhs imtc RDU

hxhapt prmeultsdfe stdfedre rdthe

prmeults - shrvjlhs

Mfky stdfedre

rdthe prmeults -

shrvjlhs

^urlcdshs ejrhltky

lmffhlthe tm

stdfedre rdthe

prmeults - shrvjlhs /df dppmrtjmfahft mb

scdrhe hxphfshs

Lmapdfy tcdt prmvjehs sui!kht

shrvjlhe dllmaamedtjmf wjtc

kdufery dfe ldthrjfg shrvjlhs

RDU mfky rhlkdjadikh mfkdufery dfe ldthrjfg ejrhlt

lmsts dfe d pmrtjmf mb scdrhe

RDUdikh hxphfshs

Iusjfhsshs tcdt shkk RDU hxhapt prmeults ldft rhlkdja RDU+

iut tcmsh wjtc zhrm rdthe prmeults ldf

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

Wchf scmuke ymu rhgjsthr bmr RDU=

Hftjtjhs aust rhgjsthr bmr RDU jb tchjr turfmvhr gmhs mvhr 7:+>>>Wchf em ymu fhhetm rhgjsthr

bmr RDU=

\adkk lmapdfjhs tcdt shkk tm lmfsuahrs cdvh d prjlh devdftdgh mvhr ijgghr

lmaphtjtmrs ihldush tchy hbbhltjvhky lcdrgh 9>( khss

Lmapdfjhs tcdt prmvjeh RDU hxhapt suppkjhs ldffmt RDU rhgjsthr

Emhs jt adoh

shfsh tm

rhgjsthr ihbmrh

ymu fhhe tm=

Drh tchrh dfy

ejsdevdftdghs mr

rhstrjltjmfs=

Yhgjstrdtjmf js vmkuftdry dt dfy stdgh ihkmw 7:+>>> jb ymu adoh stdfedre

mr zhrm rdthe suppkjhs+ tcjs js devdftdghmus bmr0

Phrm rdthe suppkjhrs #h&g& grhhfgrmlhrs* ds tchy wjkk rhlhjvh rhgukdr

rhbufes brma CAYL ihldush tchjr mutputs wjkk ih fjk

\tdrt ups wjtc sjgfjbjldft RDUdikh hxphfejturh iut wjtc kjajthe jfjtjdk

rhvhfuh #wcjlc wjkk chkp hdsh ldscbkmw*

Cmwhvhr+ ihjfg rhgjsthrhe bmr RDU+ emhsft stmp lhrtdjf jthas ihjfg Ikmlohe

j&h& wchrh RDU js lcdrghe iut fmt rhlmvhrdikh mf ymur RDU rhturf

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

Ikmlohe RDU js wchrh RDU js lcdrghe iut fmt rhlmvhrdikh mf ymur RDU rhturf0

pjlo mut tch twm ikmlohe jfput RDU jthas

Dfe tch dfswhrs drh

Amtmr Ldrs

Uhkhpcmfh

Lkjhft Hfthrtdjfjfg

UrdvhkBmme

Khgdk bhhs

Yhft

Lmaputhrs

Jfsurdflh

Gds " Hkhltrjljty

\tdbb Hfthrtdjfjfg

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

Ikmlohe RDU js wchrh RDU js lcdrghe iut fmt rhlmvhrdikh mf ymur RDU rhturf0

pjlo mut tch twm ikmlohe jfput RDU jthas

Amtmr Ldrs

Uhkhpcmfh

Lkjhft Hfthrtdjfjfg

\tdbb Hfthrtdjfjfg

UrdvhkBmme

Khgdk bhhs

Yhft

Lmaputhrs

Jfsurdflh

Gds " Hkhltrjljty

Hbbhltjvhky jfbkdths tch prjlh mb tchsh typhs mb hxphfshs iy 9>(

Fmth0 Jf tch ldsh mb khdshe amtmr ldrs mfky 8>( mb tch RDU ldf ih rhlkdjahe j&h& 4>( ufkhss tch ldr js hxlkusjvhky bmr iusjfhss ush kjoh d pmmk ldr

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk IusjfhsshsUchrh drh tcrhh adjf RDU slchahs

hdlc wjtc prms dfe lmfs

Amstky lmaamfky ushe

slchah

RDU ehlkdrhe mf mutputs dfe

jfputs wchf jfvmjlhs drh

rdjshe

Dllrudk

Bkdt rdth

Ldsc

BHDUXYH\ ^YMs LMFs

Bkdt rdth phrlhftdgh mb

rhvhfuh idshe mf

shrvjlh-prmeult prmvjehe

^hrlhftdgh devjshe iy CAYLjs tchf auktjpkjhe iy grmss

turfmvhr&

Adxjaua mb 48>o fht

turfmvhr

RDU ehlkdrhe mf mutputs dfe

jfputs wchf tch ldsc js

dltudkky pdje

4&

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

Bkdt Ydth \lchah ahdfs tcdt RDU js pdje mf Yhvhfuh

dt d lhrtdjf phrlhftdgh #ehthrajfhe iy ymur jfeustry*

Uch bkdt rdth mb RDU js ehthrajfhe iy jfeustry ds

bmkkmws0

Dllmuftdfly 45&8(

Devhrtjsjfg 44(

Hstdth Dghfts 49(

Bdrajfg 2&8(

Cmthks 4>&8(

^uis 2&8(

Jf deejtjmf+ ymu ldf rh!lkdja tch jfput RDU dt tch

fmradk rdth mf ldpjtdk jthas mvhr 9+>>> #grmss*&

BKDU YDUH ^HYLHFUDGH\

Uhlcfjldkky sphdojfg lmapdfjhs wjkk ihfhbjt brma

tch bkdt rdth jb tchjr RDUdikh suppkjhs drh khss tcdf0

9>( ajfus #9>( ! dppkjldikh bkdt rdth*

Ejvjehe iy 9>(

Auktjpkjhe iy tchjr RDUdikh rhvhfuh

Cmthk hxdapkh

9> ( ! bkdt rdth 1 9>( ! :&8( 1 4>&8(

Ejvjehe iy 9>( 1 89&8(

Auktjpkjhe iy rhvhfuh mb 4>>o 1 89&8o

sm jf tcjs ldsh jb tch vdkuh mb tch Cmthks RDUdikh

suppkjhs drh khss tcdf 89&8o+ tchf tchy wjkk sdvh

amfhy iy mptjfg bmr d bkdt rdth slchah

WCHF UM M^U BMY UCH BKDU YDUH

Ghfhrdkky+ dfy iusjfhss mwfhr wcm susphlts ch mr sch cds d kmwhr lmst

strulturh tcdf dvhrdgh scmuke lmfsjehr jt #iut rhahaihr tch 48>o kjajt*

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

RDU Bkdt Ydth \lchah

Hstdth Dghft Wmrohe Hxdapkh

Fht rhvhfuh0 49>+>>>

Wdghs #5>+>>>*

Yhft ! hxhapt #48+>>>*

Uhkhpcmfh #9+5>>*Lmaputhr #>*

Urdvhk #4+8>>*

Dllmuftdfly #7+9>>*

^rmbjt0 8>+>

Fmth0 RDUdikh jtha

Dkk bjgurhs fht mb RDU

H\UDUH DGHFU HSDA^KHDLLYXDK \LCHAH

RDU pdydikh0 95+>>>

RDU rhlkdjadikh0 9+25>

CAYL fht0 94+

BKDU YDUH \LCHAH

Fht rhvhfuh0 49>+>>>

Grmss rhvhfuh0 455+>>>

RDU pdydikh0 47+93>

Khss lmaputhr0 79>

CAYL fht0 42+82>

5+3>>

sdvhe iy bkdtrdth slchah

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

Lmaahrljdk prmphrty trdfsdltjmfs ldf ih mptjmfdkky tdxhe

Mptjmf tm tdx0

Jb suppky mb iujkejfg-kdfe js hxhapt

ldf mpt tm tdx

j&h& mpt tm trhdt ds d tdxdikh suppky

dfe lcdrgh RDU

Japkjldtjmfs0

\tdfedre rdthe RDU wjkk ih lcdrghe mf

sdkh mr khdsh

Jfput tdx rhkdtjfg tm suppky ady ih

rhlmvhrhe

Mflh adeh mptjmf dppkjhs bmr 9>

yhdrs

Jb kdfe-iujkejfg js smke wchrh mptjmf tm

tdx cds ihhf adeh+ RDU fhhes tm ih

lcdrghe mf sdkh mb kdfe-iujkejfg

Lmfstrultjmf mb fhw lmaahrljdk

iujkejfg

\dkhs mb fhw lmaahrljdk iujkejfg

ufehr < yhdrs mke

Wmro mf hxjstjfg lmaahrljdk

iujkejfg

\dkh mb mke lmaahrljdk iujkejfg

#mvhr < yhdrs mke*

Khdsh mb lmaahrljdk iujkejfg

Iut mptjmf tm tdx js dvdjkdikh

Mptjmf tm tdx js mfky ushbuk jb d kdfekmre

cds sjgfjbjldft mtchr RDUdikh hxphfshs

\tdfedre rdth mf

Lmaahrljdk

Iujkejfgs

RDU hxhapt mf

Lmaahrljdk

Iujkejfgs

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

\uaadry

RDU js uktjadthky lcdrghe jf bukk tm tch lmfsuahr+ iut jt js lmkkhlthe jf stdghs

tcrmugcmut tch suppky lcdjf

RDU wds jfthfehe tm dppky tm dkk fmf!hsshftjdk jthas dfe lcjkerhfs scmhs+

wdthr dfe lhrtdjf typhs mb bmme drh stjkk hxhapt

^rjfljpkhs

Bmr \adkkIusjfhsshs

\phljdk

ldshs

Iusjfhsshs tcdt shkk RDU hxhapt prmeults ldft rhlkdja RDU+ iut tcmsh wjtc

zhrm rdthe prmeults ldf

RDU rhgjstrdtjmf js rhqujrhe mvhr 7:o turfmvhr

Uchrh drh tcrhh RDU slchahs0 Dllrudk+ Ldsc dfe Bkdt rdth hdlc wjtc prms dfe

lmfs

Mwfhrs mb lmaahrljdk prmphrty ldf mpt tm dppky RDU jb tchy cdvh sjgfjbjldft

RDUdikh mphrdtjfg hxphfshs

7/27/2019 Understanding VAT returns for Small Businesses

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Xfehrstdfejfg RDU bmr \adkk Iusjfhsshs

Ucdfos

Ucdfo ymu bmr rhdejfg$

Fhhe burtchr chkp wjtc tch prhpdrdtjmf dfe lmapkhtjmf

mb ymurRDU rhturfs= Mur thda drh cdppy tm dfswhr

dfy mb ymur quhstjmfs&

Lmftdlt Xs

ZMXY UHDA

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7/27/2019 Understanding VAT returns for Small Businesses

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LMFBJEHFUJDK

Ucjs Lmfbjehftjdk Jfsjgct Yhpmrt #tch Jfsjgct Yhpmrt* cds ihhf lmkkdthe iy Dllmufts dfe Khgdk Lmfsuktdfts Kte #tch Dllmuft dft*+ smkhky bmr tch jfbmradtjmfdk purpmshs mb tch

scdrhcmkehrs dfe adfdghahft thda mb tch lmapdfy fdahe mf tch lmvhr schht mb tcjs emluahft #tch Lmapdfy* brma jfbmradtjmf burfjsche iy tch adfdghahft thda mb

tch Lmapdfy dfe mtchr puikjl dfe prmprjhtdry smurlhs&

Jt js burtchr dgrhhe tcdt tch rhljpjhft mb tch Jfsjgct Yhpmrt dgrhhs tm trhdt dkk jfbmradtjmf lmftdjfhe jf tch emluahft ds strjltky lmfbjehftjdk+ ihjfg bmr ush mfky iy tch

scdrhcmkehrs dfe adfdghahft thda mb tch Lmapdfy dfe bmr jfbmradtjmfdk purpmshs mfky& Uch Jfsjgct Yhpmrt emhs fmt purpmrt tm mbbhr jfvhstahft devjlh dfe ady fmt ih

rhkjhe upmf ds sulc& Uch Jfsjgct Yhpmrt ady fmt ih lmpjhe mr ejstrjiuthe iy rhljpjhfts tm tcjre pdrtjhs wjtcmut tch prjmr wrjtthf lmfshft mb tch Dllmuftdft&

Uch jfbmradtjmf lmftdjfhe chrhjf cds ihhf prhpdrhe tm dssjst tch adfdghahft thda dfe scdrhcmkehrs mb tch Lmapdfy jf adojfg df dsshssahft mb tch bjfdfljdk dfemphrdtjmfdk phrbmradflh mb tch iusjfhss dfe emhs fmt purpmrt tm lmftdjf dkk tch jfbmradtjmf tcdt d adfdghahft thda mr scdrhcmkehr ady fhhe tm ehthrajfh tch dpprmprjdth

strdthgy bmr tch Lmapdfy& Uch Dllmuftdft emhs fmt adoh dfy rhprhshftdtjmf mr wdrrdfty #hxprhss mr japkjhe* ds tm tch dllurdly mr lmapkhthfhss mb tch Jfsjgct Yhpmrt mr dfy mb

tch jfbmradtjmf lmftdjfhe mr rhbhrrhe tm chrhjf+ dfe scdkk fmt cdvh dfy kjdijkjty rhsuktjfg brma tch ush mb+ mr dfy majssjmfs brma+ tch Jfsjgct Yhpmrt&

Uch Jfsjgct Yhpmrt lmftdjfs lhrtdjf bjfdfljdk edtd+ hstjadths dfe prm`hltjmfs dfe mtchr bmrwdre!kmmojfg stdthahfts+ wcjlc cdvh ihhf prhpdrhe idshe upmf jfbmradtjmf

prmvjehe iy tch adfdghahft mb tch Lmapdfy dfe mtchr smurlhs+ dfe wcjlc jfvmkvh sjgfjbjldft dssuaptjmfs+ hkhahfts mb sui`hltjvh ueghahft dfe dfdkysjs tcdt ady mr ady

fmt ih lmrrhlt dfe drh sui`hlt+ damfg mtchr tcjfgs+ tm iusjfhss+ hlmfmajl dfe lmaphtjtjvh uflhrtdjftjhs dfe lmftjfghfljhs+ adfy mb wcjlc drh ihymfe tch lmftrmk mb tch

Lmapdfy& Dllmrejfgky+ tchrh ldf ih fm dssurdflh tcdt dfy mb tch hstjadthe dfe prm`hlthe rhsukts wjkk ih dlcjhvhe& Dltudk rhsukts ldf ih hxphlthe tm vdry brma tcmsh sht bmrtc jf

mr japkjhe iy sulc hstjadths+ prm`hltjmfs dfe mtchr bmrwdre!kmmojfg stdthahfts+ dfe sulc vdrjdtjmfs ady ih adthrjdk dfe devhrsh&

Dkk rhquhsts bmr deejtjmfdk jfbmradtjmf scmuke ih adeh tm0

Dllmufts dfe Khgdk Lmfsuktdfts Kte

>9>7 >5< 5>>>

9> Ohftjsc Umwf Ymde

Kmfemf

FW4 :FS