B. exchange D. sale 31. Gross receipts from sale of service do not include A. value added tax C. materials supplied with the service B. contract price D. deposits and advance payments D. Registration fee applies to new business when expected gross sales exceed P3,000,000 24. VAT A. Form of sales tax C. Borne by consumers B. Consumption tax D. All of the above 17. X is a VAT registered professional business with the following reports during the year : 08. Which of the following is not correct regarding TIN ? A. Only one TIN is allowed for each taxpayer. B. The TIN is issued every year every time the taxpayer is renewing his registration. C. The TIN is required to be indicated in every taxpayer tax returns. D. Failure to indicate correct TIN on documents specified to be indicated with TIN shall be subject to applicable criminal sanctions