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recovering sales tax from purchases –

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › recovering sales tax from purchases –

  • This topic has 2 replies, 2 voices, and was last updated 6 years ago by John Moffat.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • March 22, 2019 at 1:25 pm #510067
    kingkongsajang
    Member
    • Topics: 95
    • Replies: 75
    • ☆☆

    Hi,

    I’ve had a look at the video and I thought I understood it but I don’t get it.

    If you’ve made a purchase, you are still the customer to the supplier. Therefore, won’t the supplier be charging the sales tax to you, on behalf of the tax authorities? This would be the first time, so why would you get the tax you paid on the price charged by the supplier back?

    March 22, 2019 at 1:27 pm #510069
    kingkongsajang
    Member
    • Topics: 95
    • Replies: 75
    • ☆☆

    i was trying a different question and i dont get still don’t get this topic

    March 22, 2019 at 3:28 pm #510081
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54748
    • ☆☆☆☆☆

    Any sales tax suffered is subtracted from the sales tax due to be paid to the state.
    If you have suffered more than you have have charged then you get it repaid by the state.

    That is the tax rule!

    Do watch the video again.

  • Author
    Posts
Viewing 3 posts - 1 through 3 (of 3 total)
  • The topic ‘recovering sales tax from purchases –’ is closed to new replies.

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