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This article applies to:

  • Product: ONESOURCE Indirect Tax Compliance

Exempt Supply with Credit Accounts Payable

This schedule is to record any input tax relating to exempt supplies where credit is available due to special VAT provisions.

Developing the Schedule

This schedule can be developed from the
Input Schedule I
.

Completing the Schedule

  1. Enter the description.
  2. Select appropriate supply type (Goods or Services).
  3. Select appropriate rate type.
  4. Enter
    Net of VAT
     amount and
    Input VAT
     as appropriate.
  5. The schedule flows through to the
    Schedule I
     and
    Return Summary Analysis
     as relevant.

Standard Sub-schedules

There are no standard sub-schedules for this schedule.

Carry Forward

Information entered on this schedule carries forward to the next period and is displayed with the prior period totals on the right hand side of the window. This allows comparison of the periods' figures to be made and may help you identify any mistakes.

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