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.
also; please help ,me by calculating the correct vat amount and show me the working out and formulas for the following:
sales (inclusive vat)=456000
sales (exclusive vat)=97000


thanks
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