Question
(d) The following are the sales and purchases of Jasbo Limited, a supplier of vatable goods, for the six months period ended 31 December 2022.
(d) The following are the sales and purchases of Jasbo Limited, a supplier of vatable goods, for the six months period ended 31 December 2022. Standard rate Sh 1,200,000 1,000,000 800,000 1,400,000 600,000 1,600,000 6,600,000 July August September October November December July August September October November December Exports 300,000 250,000 160,000 400,000 100,000 380,000 1,590,000 Purchase (standard) Sh 900,000 750,000 350,000 1,100,000 400,000 Sh. 1.200.000 4.700.000 All the purchases and sales above are VAT exclusive. Required: Exempt sales Sh 160,000 100,000 90,000 135,000 80,000 170,000 735,000 Determine the total input tax deductible for the six month period ended 31 December 2022. Determine the total VAT payable for the period to 31 December 2022. (2mks) (7mks)
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