The new system, which will be enforced from April 1, 2023, will include changes to terminology, rules, and documentation requirements.
The use of tax invoices will be replaced by a more general requirement to provide and keep certain records known as ‘taxable supply information,’ and the customer will not be required to maintain a single physical document holding the taxable supply information, such as a tax invoice, credit note, and debit note.
Source: indiannewslink.co.nz
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