[Question] VAT definitions

[rram]

hi people!! im just a kid!! so please feel free to help!! i have this accounting assignment due and im working on vat!!! it really sucks!! i have done a lot of research however i haven't found a proper detailed definition on : vat input and vat output


please assist me if possible

[Dave A]

Output VAT:
The VAT you charge your customer when you make a sale.

Input VAT:
The VAT your supplier charges you when you buy something from them.

I hope that helps.

[AndyD]

Hi rram, welcome to TFSA.

Your question was asked and answered here..

[Dave A]

Yeah - I think he/she's just an eager beaver. Posting like they're in a chat room

[rram]

HAH, IM SORRY GUYS I JUST NEED SOME HELP ON THIS PROJECT REALLY QUICK

[rram]

hi; can some one help me on the following topics by giving me a definition and example for each:
vat exempt, zero rated.
also; please explain the consequences for a business for the non payment of vat to sars.
THIS WOULD BE THE THIRD TIME I HAVE ASKED THIS WITHOUT AN ANSWER!!!!!!!!!!!!!!!!!!!!!!!!!!

thanks

[Dave A]

THIS WOULD BE THE THIRD TIME I HAVE ASKED THIS WITHOUT AN ANSWER!!!!!!!!!!!!!!!!!!!!!!!!!!

Ahem!

Sunday evening.
Business forum.
Participation voluntary and on people's own time, not yours.

Take a chill pill, punk!

EDIT: And is that a 4th I see

My ban finger is getting damn itchy right now.

[rram]

IM REALLY SORRY ABOUT THAT DUDE!!!!!