INTERVIEW QUESTIONS TAX VALUE ADDED TAX DETAILS

Question: Whether claim of Value Added Tax (VAT) Input Tax Credit is on a One to One Basis?

Answer: No. The tax paid on purchases in a period can be deducted from tax payable on sale, whether such goods is sold or not during that particular period.

No. The tax paid on purchases in a period can be deducted from tax payable on sale, whether such goods is sold or not during that particular period. Source: CoolInterview.com

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