Page 27 - PowerPoint Presentation

Deemed Supplies

Excess Payment

• Output VAT payable if excess is not refunded within

4 months

• If refunded later?

• Example

You have an Edgars account, and your spouse paid R400

on the account, and you also paid R400, without knowing

that he/she paid...Edgars will have to levy output VAT if

they don't refund within 4 months

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