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Can a vat vendor claim input vat on goods purchased from a non vat vendor?
Wiki User
∙ 10y ago
Assuming that we are a registered VAT vendor, when we make a purchase from a non-VAT vendor we cannot claim any VAT input from the purchase due to the fact that no VAT was charged on the supply by the supplier who is a non-VAT vendor.
Wiki User
∙ 10y ago
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What is Vat input?
VAT stands for the Value Added Tax. The definition of input VAT is the tax that is added to the price when you buy services or goods liable to VAT.
How does the government collect GST?
In Canada it is the registrants who collect GST/HST from the people to whom they provide their goods and services. Depending on their filing frequency of thier GST/HST returns (monthly, quarterly or annually), they indicate the amount of GST/HST that they have collected as well as the GST/HST that they paid as inputs to their commercial activity (input tax credits). The input tax credits are deducted from the GST/HST collected and the balance (positive or negative) becomes their net tax. They then either remit (if a positive amount) or claim their "refund" (negative amount). The government doesn't actually "collect" the tax, they receive it from their tax collectors...the GST/HST registrants.
Is Vat input debited or credited?
Credit
Does input include user responses?
yes it does.
Is vat input is asset or liability?
Asset.
What is the journal entry for purchasing goods on credit?
Purchase a/c Dr Input vat a/c Dr To Party a/c (Being goods purchased on credit from supplier/creditor.)
What are produce goods andconsumrr goods?
Consumer goods are market ready goods, producer goods are the input materials needed to manufacture consumer goods.
The amount of goods or services produced per input used?
productivity
Is VAT on goods sold and services rendered input VAT?
TRUE
What is The amount of goods and services produced from each unit of labor input called?
Productivity
What is the meaning of crop production?
the process of utilising tangible and intangible input to get goods and services
What is Vat input?
VAT stands for the Value Added Tax. The definition of input VAT is the tax that is added to the price when you buy services or goods liable to VAT.
How can one claim compensation from a workplace accident?
You can claim compensation in a workplace accident by getting legal representation. They will go through your case, get medical input, and they will sue on your behalf.
Which economic indicator is measured by comparing the amount of goods or services produced with the amount of input that was used in production?
productivity
What is efficency?
It is the relative proportion or ratio of the Energy Input to a system to its output.
Input and output in the business of eBay?
Inputs: Computer, servers, webpage design Outputs: Electronic payment, physical transfer of the goods
West Bengal sales tax act 1994?
will a alchole sold in hotel attract sales tax in west bengal and do the seller can claim input on it
