Tax Invoice On Retention and CN
I’ve issued a tax invoice for retention amt (for work in GST period) dated 30Aug2018 as per DG’s decision.
Am I allowed to issue a non-tax Credit note for the same retention (without reversing the GST) as the retention is not due receivable yet? Can i date the CN on the same date, 30Aug2018?
illustrated as follows:
Tax Invoice: Retention (10,000) + GST (600) = 10,600
Credit Note: Retention (10,000) = 10,000
Nett receivable (invoice outstanding)=600 (which is just the GST amt that I pay Customs.