Page 7 - P6 Slide Taxation - Lecture Day 5 - VAT Part 1

Example

A vendor registered on the invoice basis supplied the

following goods:

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

premises and the invoice 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 R100 000 for goods delivered

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

You are required to determine the time of the

above supplies for VAT purposes.