"Indeed, we have turned back to You" (Qur'an 7:156), meaning: we have repented.
"And My mercy encompasses all things" (Qur'an 7:156), meaning: its people. When this verse was revealed, Iblis reached out for it and said, 'I am of that thing,' and the people of the two scriptures (the Jews and the Christians) coveted it. So Allah said, "So I will decree it" (Qur'an 7:156), meaning: I will assign it, "for those who fear [Me]" (Qur'an 7:156), by avoiding polytheism, "and give the zakah" (Qur'an 7:156), by affirming the oneness of God (tawhid).
﴿إِنَّا هدنا إِلَيْك﴾ أَيْ: تُبْنَا.
﴿وَرَحْمَتِي وَسِعَتْ كُلَّ شَيْء﴾ يَعْنِي: أَهْلَهَا. لَمَّا نَزَلَتْ هَذِهِ الآيَةُ، تَطَاوَلَ لَهَا إِبْلِيسُ، وَقَالَ: أَنَا مِنْ ذَلِكَ الشَّيْءِ، وَطَمِعَ فِيهَا أَهْلُ الْكِتَابَيْنِ، فَقَالَ اللَّهُ: ﴿فسأكتبها﴾ يَعْنِي: فسأجعلها ﴿للَّذين يَتَّقُونَ﴾ الشّرك ﴿وَيُؤْتونَ الزَّكَاة﴾ التَّوْحِيد.