Page 156 - ADVANCED TAXATION - Day 1 Slides
P. 156
Adjustments (s 18)
N/A if input
Input was was denied
claimed
≤ 100% taxable
supplies 0% taxable supplies
Account for Output
tax
MV x 14/114
AND
S16(3)(h)
Input tax
lower of cost/MV x
14/114 x % non taxable
use before adjustment
Lower of MV on date of change/MV on date of previous adjustment
