TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Suppliers must issue credit or debit notes, declare them in monthly/Nov 30 returns, and adjust tax; restrictions apply.</h1> Where tax invoices overstate or return/deficiency of supplied goods or services occurs, the registered supplier may issue one or more credit notes with prescribed particulars; credit notes must be declared in the return for the month issued or by November 30 following the financial year end (or earlier annual return) and tax liability adjusted as prescribed. If invoices understate tax, the supplier must issue one or more debit notes and declare them in the return for the month issued with tax adjusted accordingly. A debit note includes a supplementary invoice. Reduction in supplier output tax is disallowed if the recipient has not reversed related input tax credit or the tax incidence has been passed to another person.
TaxTMI 
TaxTMI 
