Toy Story Ltd carries on business as a manufacturer of toys from its main branch in the Republic. The company also operates a depot in Botswana, where sales are made to customers living in Botswana. The Botswanan depot does not operate as an independent branch. Toy Story Ltd has been registered as a Category A vendor. All amounts include VAT where appropriate.

The following information is provided: Receipts: 1. Cash sales made by the Republic branch to South African customers

February: R199 300

March: R182 200

Cash sales made by the Botswanan depot to Botswanan customers (these goods were forwarded to the depot on 10 January and were all sold by the end of March) February: R45 400

March: R56 800

2. Insurance payment received on an insurance claim for trading stock stolen in the Republic

February: R176 500

3. Interest received on a loan to a subsidiary company in the Republic

February: R19 180

4. Cash received for the sale of an old machine to Mr Bell, the majority shareholder. Mr Bell is not a registered vendor. The machine originally cost R20 000 and had a book value of R5 000 on the date of sale. The open market value on the date of sale was R23 480.

February: R16 900

Expenses: 1. Wages and salaries

February: R69 340

March: R62 500

2. Property rates on the business property

February: R 7 210

March: R7 210

3. Electricity and water

February: R6 583

March: R6 355

4. Telephone

February: R6 412

March: R6 070

5. Raw materials purchased from other vendors

February: R142 300

March: R96 700

6. Cost of entertaining important customers at various restaurants in Durban

February: R6 868

March: R6 412

7. Purchase of a new single-cab bakkie for use as a delivery vehicle

Cost in February: R176 500 Finance charges paid: R14 050 8. Cash cost of a new motor car purchased for general use within the business

February: R96 700

9. Petrol for delivery vehicles and the new motor car

February: R6 412

March: R6 526

10. Maintenance of delivery vehicle and the new motor car

February: R6 298

March: R6 412

11. Toy Story purchased three water bottles for the cold water-dispensing machine in the staff canteen. These bottles cost R2 000 each and were paid for in March.

February: 11 500

Required: Calculate the VAT payable by or refundable to Toy Story Ltd in respect of its two-month tax period ended 31 March 2021. (Show detailed workings of how you would deal with each item.)

NB: round off your calculations to the nearest Rand.