How to calculate VAT payable on whole sale items-Help

asked Sep 26, 2016 in VAT by anonymous

My supplies are as follows

1.I have small bag manufacturing and sale at my supermarket

500 of bags sold in quarter 750 each

2.sales at super market

Food items VAT liable 500 000+VAT

sale of goods imported under special CommodityLevy category 600 000

Unprocessed Adreculture goods 500 000

3.My small tution class - fees received 200 000

 

Liability of VAT

bags 500 x 750=375 000  x11/111 = 37162

Vatable food items 500 000x11%=55 000

SCL items -exempted

Agre items - exempted

wholesale ...liability

tot supply =500 000+500 000+337838=1 337 838

25% of total supply =334 460

exempted agreculture value -334 460=165540

VAT 165540x100/111=149135x11/100=16405

IS this wholesale VAT computation correct ? how to match with 100m limit

 

 

Your answer

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.
Anti-spam verification:
To avoid this verification in future, please log in or register.

Related questions

...