Page 36 - F6 Slide - VAT Part 4 - Lecture Day 5
P. 36
No Apportionment Of Output Tax
Vendor acquires goods/services partly for making taxable
supplies
k
When he sells the goods – FULL consideration will be subject
to VAT
2 EXCEPTIONS:
• Fringe benefits
• Indemnity payments
(Only to the extent it relates to taxable
supplies)
