This GST Ruling, released on Wed 21.8.2013, sets out the requirements for adjustment notes under Div 29 of the GST Act. It outlines:
(a) when a document is in the approved form for an adjustment note;
(b) the information requirements the Commissioner has determined under s 29-75(1)(c) and an explanation of how those information requirements in the A New Tax System (Goods and Services Tax) Adjustment Note Information Requirements Determination 2012 apply; and
(c) when the Commissioner will treat a particular document as an adjustment note, even though that document does not meet the other requirements for an adjustment note in s29-75(1).
The Ruling also summarises the circumstances when a decreasing adjustment can be attributed, without an adjustment note as determined by the Commissioner under s 29-20(3).
The draft ruling does not consider third party adjustments and third party adjustment notes under Div 134. Nor does it consider in detail special rules in the GST Act that may be relevant to adjustment notes, including those concerning agents, insurance brokers, GST groups and GST branches.
The Ruling was previously issued as Draft GST Ruling GSTR 2013/D1 and remains largely the same. With the release of this Ruling, the ATO has also withdrawn GST Ruling GSTR 2000/1 (Adjustment notes) with effect from Wed 21.8.2013.
DATE OF EFFECT: Applies on and from the date of issue.
[LTN 161, 21/8/13]