Credit and debit notes allow suppliers to adjust GST liability where invoice value or tax charged differs from actual liability.

When a tax invoice overstates taxable value or tax, or goods are returned or deficient, the supplier may issue a credit note and must declare it in the return for the month issued but not later than the September after the financial year or the annual return date; tax liability is adjusted as prescribed and cannot be reduced if tax incidence was passed to another person. Where a tax invoice understates taxable value or tax, the supplier must issue a debit note, declare it in the return for the month issued, and adjust tax liability as prescribed; "debit note" includes a supplementary invoice.

---

---

---