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hello Sir ,
i just want to ask whether the discount is to be taken into account regarding the irrecoverable debt when claiming in input vat as in the course notes example its not taken into account whereas in june 2009 q it has been taken into account as per the updated revision kit so i just want to ask if there is any fine difference between the two statements which i am being unable to pick please clear it
kind regardsGood question!! The answer to example 4 should have applied the discount to the irrecoverable debt as this would have been the figure of output tax that had originally been charged. If the revision kit question you quote has computed the VAT on the discounted sum then that is correct!! Thank you for picking up this error and we will amend in next edition!
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