Section 34 - Credit and debit notes.

Credit and debit notes govern post invoice GST adjustments and require timely return declaration and prescribed tax adjustments.

Suppliers may issue credit notes when an invoice overstates value or tax, goods are returned, or supplies are deficient; such credit notes must be declared in the return for the month of issue but not later than the September following the financial year or the relevant annual return, and tax liability adjusted as prescribed, except where tax incidence was passed to another person. Suppliers must issue debit notes, including supplementary invoices, when an invoice understates value or tax; debit notes must be declared in the return for the month of issue and the tax liability adjusted as prescribed.