Adjustments and Concessions for GST Rate Change

Key Requirements

A rebate reducing a past sale or a refund for returned goods uses the originally charged rate. A rebate against a new post-change sale reduces that sale’s value at its applicable rate. An exchange without refund taxes only extra consideration at the new rate, whereas cash or store-credit refund used for a new purchase makes the new full purchase value subject to its rate. Claim invoice GST as shown subject to the normal conditions, rather than upgrading an old 8% invoice to 9%. Credit notes identify the original invoice, adjustment reason, value and tax. Fixed-price contracts can restrict recovery from the customer without removing the obligation to account for 9/109 within a current inclusive amount. Payment concessions listed for December 2023 and January 2024 are historical and should not be treated as continuing relief.