what is vat payable? with explanation

Purchase return, net of input taxes 300,000 Deferred mput taxes (carried over from the third quarter) 9,500 The value added tax payable for the month of October by Offspring Corporation is: 6. Goodwill Bookstore, VAT registered, is engaged in the business of selling books, school supplies and gift items. The following are the record of its purchases and sales during the month of February (inclusive of tax): Sale of school supplies P 560,000 Sale of books 200,000 Sale of gift items 336,000 Purchases of school supplies and gift items 406,000 Purchases of books 176.000 THE VAT payable is M.kbed Emerprises. a VAT registered trader had the following data during the last giver of the year Purchases Sales