nrv1218
Jun 4, 2012, 12:55 AM
What happens to the input vat with goods purchased and a partial return was made by us.
Example - purchase of materials 1,120.00 and returned half. Vat input was already remitted.
Original entry:
Purchases 1,000.00
Input vat 120.00
Payable 1,120.00
Example - purchase of materials 1,120.00 and returned half. Vat input was already remitted.
Original entry:
Purchases 1,000.00
Input vat 120.00
Payable 1,120.00