What are the specific rules for VAT credit in relation to specific sectors (e.g., agriculture, construction, retail)?

... credit) and tax that he charged (output tax), and the total purchases and the tax he was charged (input tax). He then subtracts the tax on purchases (both ... Apr 1, 2022 ... Circular No. 14 expands the scope of businesses entitled to the VAT refund policy, thus allowing many more businesses to benefit. This year,China's annual tax refunds and cuts is about CNY 2.5 trillion.Among them,the amount of large-scale VAT credit refunds is about CNY 1.5 trillion. Input VAT that is not creditable shall be aggregated with costs to calculate corporate income tax, or aggregated with costs of fixed assets. Where the amount of input tax exceeds the amount of output tax, a Taxable Person is entitled to a refund of VAT from the FTA. Page 7. 7. VAT User Guide | ... Nov 18, 2021 ... The input VAT amount was refunded shortly thereafter. Due to the resulting disadvantages in terms of interest and liquidity, the taxpayer ... Sep 17, 2016 ... Its the set-off given in respect of inputs used in ultimate sale of goods. In other words whatever tax is paid by you to a person can be used as ... If the importer is entitled to 100 percent input tax credit (equipment used exclusively in taxable activities) the VAT applicable to the importation, reported ... VAT implementation. What is a taxable person? What supplies are included in the calculation of the threshold? Is liability determined under the invoice-credit, ... Aug 17, 2022 ... The Supreme Court has ruled that the limitation period for refunding a VAT credit starts only as from the request for refund by the VAT taxpayer.