E-Business Tax (MOSC)

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Deduct the purchase VAT from the sales VAT and pay the net amount to the government

edited Apr 5, 2011 8:31PM in E-Business Tax (MOSC) 3 commentsAnswered
Hi Friends,

We are in R12. Ours is a retail company , which have operations in UK . When we buy product form suppliers we pay VAT. When selling we collect VAT. But we want to deduct the VAT on purchases from the VAT on sales and pay the net tax only to government.

 

How can we do this in EBTax?

Sireesha

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