Practice question
A zero-rated seller seeks refund of all purchase VAT, including amounts already credited against taxable output and amounts unrelated to zero-rated sales. Explain the Section 112(A) limits.
Legal references
- NIRC Sections 106(B) and 112(A), read with subsequent amendments: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
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