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How much was the output tax due on October

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Question - Ivan, vat registered real estate dealer sold a residential lot on October 2018. The following information was made available on the terms of the sale: Gross selling price - P3,000,000 Initial payments consisting of down payment and installments in the year of sale - 900,000 Balance to be paid in equal installments of P700,000 - 2,100,000 starting January 2019 The zonal value of the residential lot was P2,800,000 How much was the output tax due on October 2013?

Reference no: EM133057795

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