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
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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
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