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How much is the VAT payable on the government sale

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Reference no: EM133051468

Question - In September 2021, Geralds Autoparts sold P1,000,000 (VAT exclusive) worth of goods to the government. During the month, the government paid the goods of which it withheld 5% VAT. The goods sold to the government had a cost of P500,000 (VAT exclusive). How much is the VAT payable on the government sale?

 a. P0

b. P10,000

c. P50,000

d. P70,000

Reference no: EM133051468

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