The amount of deductions is calculated using the formula: VAT = 80 × 10 ÷ 110 = 7.3 rubles. When the consumer pays, he will see the phrase “cost – 80 rubles, including VAT – 7.3 rubles” on the cash receipt. VAT can be incoming or outgoing. Incoming VAT is paid to contractors, while outgoing VAT is received from clients.
Input VAT . After transactions with suppliers, the business receives invoices. south africa telegram mobile phone number list They are used to calculate deductions transferred to the seller - this is input VAT. It "entered" the organization's balance along with the purchased products. Outgoing VAT. The amount of these contributions is determined by the documents issued to the buyer. The money "left" the balance sheet of the enterprise along with the sold goods.
they receive from clients to the budget. They deduct incoming deductions from outgoing ones, and transfer the difference to the Federal Tax Service: VAT payable = Output VAT - Input VAT. The company sews large-size jackets. They buy material, insulation and fittings from suppliers. One product requires: Fabrics for 500 rubles (including 20% tax - 83.