Question 3 (Marks: 10) Q.3.1 I am a small VAT-registered vendor running a hardware store in my local suburb. I bought an attachment for our paint mixing machine from Hardware Centre which supplies equipment and parts to the hardware trade. Hardware Centre are also registered for VAT. I paid R 5 800 from my business debit card and received the cash till slip from Hardware Centre's cash register. Q.3.1.1 Would this till slip be sufficient to be considered a valid source document to enable SARS to allow me an input VAT claim assuming the paint mixing attachment fell into a claimable VAT category? Q.3.1.2 What would distinguish this till slip from a full tax invoice? The Independent Institute of Education (Pty) Ltd 2024 € X (2) Dana 2 ota (2)
Question 3 (Marks: 10) Q.3.1 I am a small VAT-registered vendor running a hardware store in my local suburb. I bought an attachment for our paint mixing machine from Hardware Centre which supplies equipment and parts to the hardware trade. Hardware Centre are also registered for VAT. I paid R 5 800 from my business debit card and received the cash till slip from Hardware Centre's cash register. Q.3.1.1 Would this till slip be sufficient to be considered a valid source document to enable SARS to allow me an input VAT claim assuming the paint mixing attachment fell into a claimable VAT category? Q.3.1.2 What would distinguish this till slip from a full tax invoice? The Independent Institute of Education (Pty) Ltd 2024 € X (2) Dana 2 ota (2)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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