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VAT on Admin/selling Expenses

Claimable Input in VAT return

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Vat/GST on admin and selling Expenses should or shouldn't be booked in ledger as asset to claim in VAT return, as general rule is that only traded related purchases which are resalable to end customer qualifies for input claim, Am I right???

For example, Company pays fees for official purpose vehicle registration renewal every 6 month and receive invoice included 5% vat, should we expense out the whole amount or aslo go for vat.


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08th Jan 2019 22:00

Think you're asking the wtong country here.

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