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How much is the creditable input tax

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Question - Pepper Inc. would supply the materials, while Blossom Inc. would provide for the labor for a total contract price of P56 million. In April 2024, Magnaye Corporation made a 20% down payment of P1.12 million to its suppliers for the materials it bought for P5.6 million. It also paid Blossom Inc. P11.2 million based on progress billings. How much is the creditable input tax on construction-in-progress for the month of April?

Reference no: EM132960093

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