Question 3: a) Briefly explain input VAT and output VAT with suitable example. (4 marks) (Suggested: 80 100 words) b) Mohammed a retailer sells a product whose listed price is RO 80,000 and charges VAT (Value Added Tax) on it at the prescribed rate of 7% from the customer. If Mohammed pays a VAT of RO 70 to the government, what was the price inclusive of tax at which the Mohammed bought the article from the wholesaler? If the wholesaler pays a VAT of RO 60 to the government what was the price inclusive of tax at which the wholesaler bought the article from the manufacturer? How much does the government received as VAT? (6 marks)