Record Import VAT and Duty

When you import goods from your vendors who are based out of your country, you might incur additional charges. These additional charges maybe due to custom duties and their related taxes. You can record these additional charges by recording import VAT in Zoho Books. Let’s see how you can record import VAT in Zoho Books.

Create Overseas Vendor

To record import VAT in Zoho Books, you need to first create an overseas vendor. To do this:

Overseas Vendor

Record Import VAT and Duty

Once you’ve created your overseas vendor, you will be able to record import VAT after creating a bill for that vendor. To do this:

Record Import VAT Record Import VAT
Postponed Import VAT

If you haven’t paid import VAT during the time of import, it is known as Postponed Import VAT.

If you have incurred postponed import VAT, the import VAT that you are recording will be included during the VAT filing return.

If you have already paid import VAT during the time of import, enable the VAT has been paid on the import of these goods option while recording import VAT.

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