What this screen is for
This report sets what you charged customers against what you were charged by suppliers. Three cards show tax collected on sales with the invoice count, tax paid on purchases with the bill count, and the net liability, labelled as payable to government or as refundable credit depending on which way it falls. Below, payments already made are grouped by tax type, and a monthly breakdown table shows collected, paid and net for each period in the range.
When to use it
Use it when you want the shape of your tax position over a stretch of time rather than one return period: before a payment run, at quarter end, or when explaining why a period's liability moved. Set the from and to dates and apply.
What you see on this screen
The header reads Tax Liability Report, subtitled "Tax collected vs tax paid analysis".
Four cards:
- Tax Collected (Sales) — tax charged on your invoices, with the number of invoices behind it
- Tax Paid (Purchases) — tax charged to you on supplier bills, with the number of bills
- Net Tax Liability — the difference, labelled Payable to government or Refundable / ITC according to which way it falls
- Tax Payments Made — what has already been remitted in the range, with the number of payments
Monthly Breakdown is a table with one row per period in the range and columns Period, Tax Collected, Tax Paid and Net Liability. Where the range holds nothing, it reads "No tax data".
Filters and actions
From Date and To Date bound the range, and Apply reruns the report over it. The figures come from your own invoices, bills and recorded tax payments, so the report will only be as complete as those are: a payment not recorded on Tax Payments will not appear here.
Related
- Tax Payments
- GSTR-3B