Different vat rates
This query is : Resolved
23 August 2011
Dear Expert,
i recently saw a sale transaction (trading entity) in which output vat was charged @ 12.5%, but the goods sold was purchased under 5%.
my question is "can a item be sold with a different vat rate at it was purchased" ?
i recently saw a sale transaction (trading entity) in which output vat was charged @ 12.5%, but the goods sold was purchased under 5%.
my question is "can a item be sold with a different vat rate at it was purchased" ?
23 August 2011
Generally VAT rates are same only for one product unless the second seller change the nature of product. or any one person charged wrongly the VAT rate.
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