The answer to this query
is based on legislation as at 2014/03/19.
day, I need a second opinion regarding the following matter.
did not claim input VAT for 200602.
The law: Proviso (1) to Section 16(3)(n)
of the VAT Act states that: "where any vendor is entitled under the preceding
provisions of this subsection to deduct any amount in respect of any tax
period from the said sum, the vendor may deduct that amount from the amount
of output tax attributable to a later tax period which ends no later than
five years after the end of the tax period during which-
aa) the tax invoice
for that supply should have been issued as contemplated in section 20(1);
goods were entered for home consumption in terms of the Customs and Excise
A: I agree
with your interpretation of the VAT as well as TAA – this is possible.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.