Determining the VAT portion and VAT input and output

In this tutorial we'll look at a conceptual representation of VAT input and VAT output and the ratio used to determine the VAT portion of an amount including VAT.

[thullyconfidence]

Finally I understood vat input and output vat 💃💃💃💃 THANK YOU SIR

GOD BLESS YOU

[gratianelson]

Thank you. I live in South Africa and even with the VAT now being 15% you have explained the difference in Output and Input VAT better than my textbooks!

[nikkipj]

i live in south africa and i am currently a student of UNISA, so this video is very relevent to me; thanks a million, for sharing it :)

[thabanimadlala]

Thank you for this elaborate illustration

[WOOOPdoctorFROGhere]

in your example it is assumed that we buy the TV off the supplier and then sell it at a greater price than we purchased it for.

My question is what happens if we sold the TV for a figure lower than what we paid for it. Lets say the output tax figure on the sale is only £50. So the VAT calculation would be R50 subtract R70 = minus 20. Would there be any further VAT rebate or would we simply claim back the the Input VAT and not pay any output VAT?