INVOICE / PURCHASES
Hi i have just registered for gst on1/7/24. Should gst be recorded for invoice or purchases made prior to 1/7/24 but paid or received the money after the 1/7/24.
ray
Hi there Swampy-66,
When you register for GST, it applies from the date of registration onwards. Since you registered for GST on 1/7/24, GST should not be recorded for invoices or purchases made prior to this date, even if the payment or receipt of money occurs after 1/7/24. GST is only applicable to transactions that occur after your registration date. However, it would still be best to consult your accountant regarding this as they can provide you with more information.
Best regards,
Doreen
