Indirect TAX
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mazinynyb
Registered Posts: 5 Regular contributor ⭐
Good Day...
I want to know why in this question the answer is Increase VAT payable (((( A credit note for taxable supplies that has been received from a supplier is being processed.))) . I know the VAT for purchase Decrease VAT payable...
Purchase
VAT
Creditor
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Regards
I want to know why in this question the answer is Increase VAT payable (((( A credit note for taxable supplies that has been received from a supplier is being processed.))) . I know the VAT for purchase Decrease VAT payable...
Purchase
VAT
Creditor
I wait reply
Regards
0
Comments
-
Good Day...
I want to know why in this question the answer is Increase VAT payable (((( A credit note for taxable supplies that has been received from a supplier is being processed.))) . I know the VAT for purchase Decrease VAT payable...
Purchase
VAT
Creditor
I wait reply
Regards
You know that VAT on purchases decreases VAT payable so it follows that VAT on purchase returns must increase VAT payable as it's the opposite of a purchase.0
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