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Buy YourCar purchased two Toyota Corolla sedans, one was a 2 0 2 1 model and the other was a 2 0 2 2 model
Buy YourCar purchased two Toyota Corolla sedans, one was a model and the other was a model priced at R and respectively. These two cars were both purchased from individuals who are nonvendors for the purposes of resale. The market value of the model is R and the market value of the model is RYOU ARE REQUIRED TO pick the correct statement from the statements below regarding input tax claimable on the purchase of the two cars:F@WabPrevious pageNotional input tax amounting to R is claimable on the purchase of the two vehicles on the lesser of purchase price and theopen market value.Input tax amounting to R is claimable on the purchase prices of the vehicles.Input tax of is denied on the purchase of the two Toyota Corolla sedans because these are motor cars as defined in the VAT Act.
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