Page 10 - P6 Slide Taxation - Lecture Day 5 - VAT Part 1

Example

A vendor registered on the payments basis supplied the

following goods:

(a) On 2 February goods were delivered at one of the clients’

premises and the invoice for R15 000 for the goods was issued

on the same date. The payment for the goods was received on 31

March.

(b) On 29 April a client paid R50 000 for goods delivered on the

same date. The invoice for the goods was issued on 14 May.

(c) On 19 July trading stock was delivered at a client’s premises

and the invoice for R180 000 was issued on the same date.

Payment for the goods was only received on 31 August.

You are required to determine the time of the above

supplies for VAT purposes.