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FORM VAT 120 See Rule 138(4), 139(4) & 140(4) COMPOSITION TAX RETURN UNDER THE VAT ACT, 2003 (Please fillip Box No 2/3/4 whichever is applicable) 1) General Information 1.1) Name : 1.2) Address:1.3.)
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Online form VAT 120 is a Value Added Tax return that businesses in certain jurisdictions must submit electronically to report their VAT transactions.
Businesses that are registered for VAT and meet specific turnover thresholds are required to file online form VAT 120.
To fill out online form VAT 120, businesses must gather their VAT transaction details and enter them into the designated fields on the online platform provided by the tax authority.
The purpose of online form VAT 120 is to ensure that businesses accurately report their VAT liabilities and comply with tax regulations.
Information that must be reported on online form VAT 120 includes total sales, purchases, VAT charged, VAT reclaimable, and any adjustments.
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