tax paid on URD PURCHASE
This query is : Resolved
24 March 2008
TAX PAID ON URD PURCHASE IS ALLOWABLE AS INPUT TAX CREDIT?
IN ANNUAL RETURN OF A FIRM IT IS SHOWN AS VAT PAID IN EXCESS. WHAT DOES IT MEAN?
IN ANNUAL RETURN OF A FIRM IT IS SHOWN AS VAT PAID IN EXCESS. WHAT DOES IT MEAN?
25 March 2008
no input tax credit is given on URD purchase. VAT paid in excess means Input tax is more than output tax.
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