GST and commercial credit notes
Choose between a GST credit note, which reduces value and GST until 30 November after the financial year, and a commercial one.
With GST invoicing on, Create Credit Note asks which kind:
| Kind | GST | When |
|---|---|---|
| GST credit note | Reduces the value and the GST | Until 30 November after the end of the invoice’s financial year |
| Commercial credit note | GST unchanged — the credit without its taxes | Any time; prints “Commercial credit note: GST is unchanged.” |
Hectile shows how many days are left for a GST credit note on each invoice. After the deadline, only a commercial credit note is offered.
For an invoice imported from your old system, the page works out the GST rate from its amounts when it can; otherwise enter the rate for a GST credit note.
GST credit notes go to GSTR-1’s notes tables; commercial credit notes are left out because GST doesn’t change.
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