VAT Reconciliation

Select a tax period to view the VAT reconciliation summary.

VAT Reconciliation Summary

Tax Period: July 2026

Reconciliation completed. The VAT amounts recorded for this period are currently reconciled.
Output VAT
LKR 450,000.00
VAT charged on taxable sales
Input VAT
LKR 185,000.00
Eligible VAT on purchases and expenses
Net VAT Payable
LKR 265,000.00
Output VAT less allowable input VAT
1. Output VAT — Sales
Description Taxable Value (LKR) VAT (LKR)
Taxable Sales 2,500,000.00 450,000.00
Zero-Rated Sales 150,000.00 0.00
Exempt / Non-Taxable Sales 100,000.00 0.00
Credit Notes Issued -50,000.00 -9,000.00
Total Output VAT 2,700,000.00 441,000.00

Output VAT is calculated from VAT-applicable sales and adjusted for credit notes and other applicable adjustments recorded during the period.

2. Input VAT — Purchases & Expenses
Description Taxable Value (LKR) VAT (LKR)
VAT-Applicable Purchases 900,000.00 162,000.00
Other VAT-Applicable Expenses 100,000.00 18,000.00
Debit Notes Received 27,777.78 5,000.00
Total Input VAT 1,027,777.78 185,000.00

Input VAT shown above represents VAT recorded on purchases and expenses that are treated as eligible for input tax recovery.

3. VAT Adjustments
Adjustment VAT Amount (LKR) Notes
Output VAT Adjustments -9,000.00 Credit notes issued during the period
Input VAT Adjustments 5,000.00 Debit notes received during the period
Other VAT Adjustments 0.00 No additional adjustments recorded
4. Final VAT Reconciliation
Output VAT LKR 441,000.00
Less: Allowable Input VAT LKR 185,000.00
Net VAT Payable LKR 256,000.00
VAT Credit / Balance Brought Forward LKR 0.00
Estimated VAT Payable for the Period LKR 256,000.00
125
Tax Invoices
8
Credit Notes
47
Purchase Records
3
Debit Notes

Reconciliation Notes

  • Amounts are based on transactions recorded for the selected tax period.
  • Input VAT should only be treated as recoverable where the relevant conditions and supporting documentation are satisfied.
  • The final VAT liability should be reviewed against the applicable VAT return and IRD requirements before submission.
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