I've recently started a small IT business as a sole trader, mainly selling products to small business and private individuals.
My question is about VAT, I'm not registered for VAT at the moment and after sifting through the internet don't think I will ever have to as my income won't exceed R1 million in a 12month period, business is more of a side income as a full on moneymaker.
Here goes the question : When I purchase something from my supplier, I pay the cost price + VAT to them, which I can understand.
When I invoice/quote my client, do I quote them the product price + my added markup + 14% VAT again?? Or just the price + markup?
I can't see that I can charge VAT because I'm not registered for VAT and if I do I don't pay it to SARS as Im not registered for VAT?
I do apologize if the question seems a bit strange, I'm a total beginner to this type of thing
Thanks in advance