Transaction value reporting required: both invoiced and taxable values must be reported; taxable value required for deemed supplies. Reporting obligations require entry of both the gross transaction value and the taxable value for each supply; where a supply occurs without consideration by operation of law, the taxable value must still be uploaded to returns so that matching and input tax credit processes can proceed.
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Transaction value reporting required: both invoiced and taxable values must be reported; taxable value required for deemed supplies.
Reporting obligations require entry of both the gross transaction value and the taxable value for each supply; where a supply occurs without consideration by operation of law, the taxable value must still be uploaded to returns so that matching and input tax credit processes can proceed.
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