Section 14 - Change in rate of tax in respect of supply of goods or services.

Time of supply for tax-rate changes set by earlier of invoice date or payment receipt, with bank-credit timing rule.

Change in the rate of tax determines the time of supply by reference to invoice issuance and receipt of payment: where supply occurred before the rate change, the time of supply is the earlier of invoice date or payment receipt if both follow the change; otherwise invoice date or payment date applies as specified. Where supply occurs after the change, similar rules allocate the time of supply depending on which of invoice or payment dates precede or follow the change. Receipt of payment is the earlier of entry in books or bank credit, with bank credit treated as receipt if credited more than four working days after the rate change.