BDF limited as the following supplies: Supplies at standard rate $5,000,000 Supplies at Zero percent $3,000,00 Supplies at 25% $2,000,000 Exempt Supplies $5,000,000 The GCT threshold is $10,000,000.   Which of the following statement is correct?   BDF limited total supplies is $15,000,000. The company is required to register for VAT. BDF limited taxable supplies is $7,000,000. The company is not required to register for VAT. c.BDF limited taxable has exempt supplies. The company is not required to register for VAT. d.BDF limited total supplies is $9,000,000. The company is required to register for VAT.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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  1. BDF limited as the following supplies:

Supplies at standard rate $5,000,000

Supplies at Zero percent $3,000,00

Supplies at 25% $2,000,000

Exempt Supplies $5,000,000

The GCT threshold is $10,000,000.

 

Which of the following statement is correct?

 

  1. BDF limited total supplies is $15,000,000. The company is required to register for

VAT.

  1. BDF limited taxable supplies is $7,000,000. The company is not required to register

for VAT.

c.BDF limited taxable has exempt supplies. The company is not required to register for VAT.

d.BDF limited total supplies is $9,000,000. The company is required to register for VAT. 

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