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vat computation

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16 views1 page

vat computation

Uploaded by

Jancy Sunish
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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EXERCISES

Exercise 1 (VAT)
Enterprise A in the current tax period has the following documents:

1. Opening stock: 50 units of product A, purchased price (VAT-exclusive) of 100,000


VND/unit.

2. Purchases in the tax period

 5,000 units of product B from a Domestic producer with the price (VAT-
exclusive) of Rs 20000 VND/unit;
 30 units of product C from a business household; the purchase price written on the
list of purchased goods at Rs 10000 per unit.

3. Products sales in the tax period

 The total 50 units of product A on stock with the selling price (VAT-exclusive) of
15000 per unit.
 2,000 units of product B with the selling price (VAT-exclusive) of 22000 per unit. The
remaining amount is outware housed to an agent (selling goods and services at set
prices) using a VAT invoice. The price written on the invoice is 22000 per unit.
 25 units of product C with the selling price (VAT-exclusive) of Rs 11000 per unit.
Calculate the VAT payable of the enterprise in the tax period. Given:

 Input VAT of other input goods and services serving the business activities in
the tax period (with legitimate invoices and documents): Rs: 5000
 Product B and C purchased with the payment method of bank transfer.

 VAT rate of A, B, C is 5%.


The enterprise has registered to pay VAT using the invoice method.

VAT payable = Output VAT - InputVAT =

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