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acca study hub says sewerage services r zero rated supplies but chatgpt says only supply of water is zero rated nd rest sewarge services r at std rate. can u clarify this
I would strongly advise you not to use ChatGPT for tax! VAT is a very complicated tax with lots of exceptions to rules which are not examinable at ACCA TX-UK. For the purposes of your exam, the ACCA study hub is correct; it’s zero rated.
well wanna say y doesnt the forum here on opentutiin allow us students to attach photos of qtns so that we will be able to more comfortably ask our qtns? typing exam kit qtns here is not easy
i hv another doubt. is there a strict rule that suppliers with only exemtp supply of goods cannot register for vat?
Your first question is one for the admin team.
The answer to your second question is yes, if a supplier makes only exempt supplies they cannot register for VAT.
anoter qtn of vat.
One gift to a customer out of inventory costing £250 was made.
The replacement cost of the goods was £300.how is this treated for output nd input vat?
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