A tax invoice is a legal document that offers a look at what the GST is for a transaction. Read on to learn about your obligations for issuing, holding, and supplying the different types of tax invoices.
You can easily learn what the general requirements are for keeping tax invoices and what you can do if you receive a tax invoice too late to claim a GST credit, as well as what the requirements are for issuing tax invoices that are specific to the value of the supplies, and how you can issue duplicate tax invoices.
It is generally true that in order to claim a GST credit for a supply of more than $50, including GST, you must hold a tax invoice.
When you supply goods and/or services to another person who is registered, you must be able to provide a tax invoice within 28 days when the purchaser asks you for one. You could be charged with penalties if you do not supply the purchaser with a tax invoice after such a request is made.
For claims on supplies that are worth $50 or more, you must hold a tax invoice in order to claim a credit. You cannot claim your credit if you do not hold a tax invoice.
This means that you cannot claim a credit for a...
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