Submitted by anishadev • July 28, 2020
nrdoshi.ae
VAT return is a periodic statement that shows how much tax is charged during that period, which is referred as output tax and how much tax is paid which is referred as input tax. The difference is what is submitted to the government. The equation is quite simple, yet many can mess it up due to several factors like ignorance of the laws, lack of knowledge, no proper maintenance of books of records, lack of proper transaction mapping etc.
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