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Types of supplies - Coggle Diagram
Types of supplies
Exempt supplies
No output tax levied by vendor
No input vat can be claimed
No input tax incurred to make taxable supplies
Examples
Associations not for gain
Subscriptions to trade unions
Educational services
Supply of goods by a non-resident
Letting of residential accomodation
Financial services
Charging of interest and other provision of credit
Provision of life insurance policy
Pension premiums
Exchange of currency
Medical aid subscriptions
Retirement annuity contributions
Cession of debts
Transport of passengers by road or railway
Taxable supplies
Standard-rated supplied
Output tax levied at 15% by vendor
Input tax can be claimed by vendor
All supplies that are not zero rated or exempt supplies
Zero-rated supplies
Output tax levied at 0% by vendor
Input tax can be claimed by vendor if input tax was incurred to make taxable supplies.
Examples
Gold coins issued by SARD
Basic food stuff
Rice
Vegetables
Beans
Eggs
Sale of going concern
International transport of passengers and goods
Exported goods
Municipal rates
Supply of sanitary towels