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+--- Thread: Tax on supplies (/showthread.php?tid=10645)
Tax on supplies - Information Consultant - 12-15-2011
A private limited company can adjust tax on supplies or it is a final tax ?
- student_of_law - 12-15-2011
According to section 153(3), Tax deducted under section 153(1)(a) [on supplies], shall only be adjustable if the recipient is (i)a company AND 9(ii) that such company is either manufacturer of such goods or a listed company
So where company is a manufacturer, tax deducted on supplies is NOT final tax.
Where a company is a listed company, tax deducted on supplies is NOT final tax
Where company is trader, tax deducted on supplies is final tax.
RE: Tax on supplies - Julia Roberts - 06-12-2014
According to section 153(3), Tax deducted under section 153(1)(a) [on supplies], shall only be adjustable if the recipient is (i)a company AND 9(ii) that such company is either manufacturer of such goods or a listed company
So where company is a manufacturer, tax deducted on supplies is NOT final tax.
Where a company is a listed company, tax deducted on supplies is NOT final tax
Where company is trader, tax deducted on supplies is final tax.
I agree with this reply , it is a satisfied one.