Tax refund policy for retained input tax

1. Positive answer

The tax refund policy for retained input tax is:

1. Focus on small and micro enterprises and key supporting industries;

2. Incremental reserve credits and existing reserve credits will be refunded simultaneously;

3. Institutional, one-time and staged arrangements will be simultaneously implemented.

4. Small and micro enterprise tax credit refund policy, a one-time refund of the existing tax credit, and a monthly refund of the incremental tax credit;

5. The tax credit refund for manufacturing and other industries The policy provides a one-time refund of the existing tax credits and a full refund of the incremental tax credits on a monthly basis.

2. Analysis details

The retained tax credit means that as a general taxpayer, if you purchase more goods in a month, the input tax will be more, and there will be more goods in stock. The current input is greater than the sales. item, there will be retained tax credits, and there will be a corresponding number of goods in stock. The retained tax is the tax generated because the current input is greater than the output. There is only tax credit left but no actual inventory. It is suspected that the goods have been shipped but no sales have been made, indicating tax evasion.

3. How to make entries for retained input tax?

1. If there is a retained tax credit, the overpaid VAT this month will be debited, and the tax payable will be deducted from the unpaid VAT. Loan, the tax payable will be deducted from the VAT payable.

2. If there is value-added tax payable and unpaid, the tax payable is deducted from the value-added tax payable, and the tax payable is deducted from the unpaid value-added tax. If the input tax amount is insufficient to be deducted, the tax treatment will result in an retained tax amount. The tax payable for the current period is equal to the output tax for the current period minus the input tax for the current period.