Problem: BTK Corp. has the following sales (VAT exclusive) during the month of November 2023:
Sale to private entities
Subject to 12% VAT P 140,000
Subject to 0% VAT 70,000
Sale of Exempt Goods 90,000
Sale to government 75,000
Sale to GOCC 25,000
The following input taxes were passed on by its VAT suppliers:
Input tax on taxable goods P 5,000
Input tax on zero-rated sales 3,000
Input tax on sale of exempt goods 2,000
Input tax on sale to government 4,000
Input tax on current purchase of depreciable
capital goods not attributable to any specific
activity (useful life is 8 years) 20,000
How much is the VAT still payable if the input tax on the zero-rated sales is claimed as a refund?