ABC computers is registered as a vat vendor. It provides you with the following information for the month of November 2018.

-Total purchases of computers and printers: R956800 vat exclusive

-Total sales of computers and printers R 413600 vat inclusive

1.calculate the input vat.
2. Calculate the output vat.
3. Calculate the amount of vat that is refunded from or payable to SARS.

1. Calculate the input VAT:

Total purchases VAT exclusive: R956800
VAT rate: 15%

Input VAT = Total purchases * VAT rate
Input VAT = R956800 * 15% = R143520

2. Calculate the output VAT:

Total sales VAT inclusive: R413600
Total sales VAT exclusive = Total sales / (1 + VAT rate)
Total sales VAT exclusive = R413600 / 1.15 = R359130.43

Output VAT = Total sales - Total sales VAT exclusive
Output VAT = R413600 - R359130.43 = R54469.57

3. Calculate the amount of VAT that is refunded from or payable to SARS:

VAT payable to SARS = Output VAT - Input VAT
VAT payable to SARS = R54469.57 - R143520 = -R89050.43

Since the result is negative, it means that ABC Computers would be eligible for a VAT refund from SARS of R89050.43.