27 June 2016
Hi All For an exporter - input vat on packing material - should claim vat refund or should debit the whole amount as expenses??????? thxn preet
27 June 2016
When you filed VAT you will have to write sales as exempted from tax and shown output tax as NIL and on the other hand you have collect purchase invoice including VAT input tax which was paid by you. so while filling vat return you tax liability will be refundable or carry forward. i.e output - input = excess payable or input - output = excess refundable or carry forward.
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