Credit and debit note rules govern GST liability adjustment and return reporting timelines for corrected invoices. Credit notes may be issued where a tax invoice overstated value or tax, goods are returned, or supplies are deficient; suppliers must declare such credit notes in the return for the month of issue but no later than the September following the end of the financial year of the supply or the relevant annual return, and tax liability is adjusted as prescribed, provided no reduction is allowed if tax and interest were passed on. Debit notes must be issued where a tax invoice understated value or tax, declared in the return for the month of issue, with prescribed adjustment; 'debit note' includes a supplementary invoice.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Credit and debit note rules govern GST liability adjustment and return reporting timelines for corrected invoices.
Credit notes may be issued where a tax invoice overstated value or tax, goods are returned, or supplies are deficient; suppliers must declare such credit notes in the return for the month of issue but no later than the September following the end of the financial year of the supply or the relevant annual return, and tax liability is adjusted as prescribed, provided no reduction is allowed if tax and interest were passed on. Debit notes must be issued where a tax invoice understated value or tax, declared in the return for the month of issue, with prescribed adjustment; "debit note" includes a supplementary invoice.
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