12-13-2006, 02:28 AM
i think u should first make a clear distinction between sales tax and income tax..
The tax levied on supplies is sales tax and on assets is income tax i.e. withholding tax
Sales tax is claimable on taxable supplies only
and you can claim withholding tax paid on assets against ur income tax
The tax levied on supplies is sales tax and on assets is income tax i.e. withholding tax
Sales tax is claimable on taxable supplies only
and you can claim withholding tax paid on assets against ur income tax
