Get Vagst Return Form - Revenue Gov

Filing your Value Added Goods and Services Tax (VAGST) return is an essential part of managing your business taxes. This guide will provide you with clear and concise instructions on how to complete the VAGST Return Form online, ensuring you understand each component of the form.

Follow the steps to complete your VAGST Return Form online.

1. Press the ‘Get Form’ button to secure the VAGST Return Form and open it in an accessible online editor.
2. In box 1, enter your VAGST registration number. Make sure this is accurate as it identifies your business for tax purposes.
3. In the next field, provide your business name and address accurately to ensure proper identification.
4. Indicate the period for which you are filing by filling in the ‘Period from’ and ‘Period to’ fields, ensuring they cover the relevant time frame.
5. In box 3, record the total amount of VAGST collected during this period. This should include all taxable sales.
6. If applicable, enter the amount of zero-rated supplies in box 4. This represents sales that are not subject to VAGST.
7. Calculate the taxable sales by subtracting the value in box 4 from the amount in box 3 and enter the result in box 5.
8. Divide the amount in box 5 by 7.66667 and document your result in box 6. This will give you the VAGST amount due.
9. If you have tax adjustments to report, indicate the amount in box 7.
10. Add the values from box 6 and box 7, then enter the total in box 8, which indicates your total output tax.
11. In box 9, report the total taxable purchases or expenses incurred during the period, including any VAGST paid.
12. Similar to the earlier step, divide the amount in box 9 by 7.66667 and enter the result in box 10.
13. Enter any tax adjustments paid to the Customs Department in box 11.
14. Add boxes 10 and 11 together and enter the sum in box 12 to indicate your total input tax.
15. Now, in box 13, compute the difference between box 8 and box 12. This will determine if you have a VAGST credit or a balance to pay.
16. If box 12 is higher than box 8, the result in box 13 indicates a VAGST credit. If box 8 is higher than box 12, the result indicates VAGST to pay.
17. In box 14, enter any credit from prior periods that you wish to apply.
18. If applicable, subtract the amount in box 14 from box 13 and record the result in box 15, which will indicate your final balance due or credit.
19. Review all the information entered to ensure completeness and accuracy before proceeding to sign the declaration.
20. Finally, sign in the designated area, providing your name, designation, date, and phone number.

Complete and file your VAGST Return Form online today for an efficient tax process.