Page 62 - Juta's Indirect Tax

s 20
(c) (d)
VALUE-ADDED TAX ACT 89 OF 1991 s 21
an individual serialized number and the date upon which the tax invoice is issued;
a description of the goods (indicating, where applicable, that the goods are second-hand goods) or services supplied;
of second-hand goods or of goods as contemplated in section 8 (10) to a recipient, being a registered vendor, the recipient shall in the form as the Commissioner may prescribe, maintain a declaration by the supplier stating whether the supply is a taxable supply or not and shall further maintain suf cient records to enable the following particulars to be ascertained:
[Para. (d) substituted by s. 104 (1) (e) of Act 32 of 2004.] (e) either—
(i) the value of the supply, the amount of tax charged and the consideration for the supply; or
(ii) where the amount of tax charged is calculated by applying the tax fraction to the consideration, the consideration for the supply and either the amount of the tax charged, or a statement that it includes a charge in respect of the tax and the rate at which the tax was charged:
[Para. (e) substituted by GN 2695 of 8 November 1991 and by s. 25 (1) (b) of Act 136 of 1992.]
Provided that this subsection shall not apply to a supply that is charged with tax under section 11.
[Sub-s. (5) amended by s. 33 of Act 97 of 1993, by s. 94 (c) and (d) of Act 30 of 1998, by s. 157 (d) of Act 60 of 2001, by s. 104 (1) (d) of Act 32 of 2004, by s. 14 of Act 9 of 2007 and by s. 1 (6) of Act 3 of 2008.]
(5A) Notwithstanding anything to the contrary in subsections (4) and (5), where a vendor acquires an enterprise from another vendor and as a result of that acquisition, the supplying vendor immediately ceases to be a vendor, and the purchasing vendor, within a period of six months from the date of the acquisition, issues or receives a tax invoice in respect of the acquired enterprise, that tax invoice may re ect the name, address and VAT registration number of the supplying vendor.
[Sub-s. (5A) inserted by s. 35 of Act 18 of 2009.]
(5B) Notwithstanding any other provision of this Act, if the supply by a vendor relates to any enterprise contemplated in paragraph (b) (vi) of the de nition of ‘enterprise’ in section 1, the vendor shall be required to provide a tax invoice containing such particulars as must be prescribed by the Minister by regulation.
[Sub-s. (5B) inserted by s. 176 (1) (a) of Act 31 of 2013 (date of commencement: 1 April 2014; the inserted subsection applies in respect of electronic services supplied on or after that date) and substituted by s. 99 (1) of Act 43 of 2014 – date of commencement: 1 April 2015.]
(6) Notwithstanding any other provision of this Act, a supplier shall not be required to provide a tax invoice if the total consideration for a supply is in money and does not exceed R50: Provided that the supplier shall provide the recipient with a document as is acceptable to the Commissioner. [Sub-s. (6) amended by s. 157 (e) of Act 60 of 2001 and by
s. 1 (6) of Act 3 of 2008 and substituted by s. 30 (a) of Act 8 of 2010.]
(7) Where the Commissioner is satis ed that there are or will be suf cient records available to establish the particulars of any supply or category of supplies, and that it would be impractical to require that a full tax invoice be issued in terms of this section, the Commissioner may, subject to such conditions as the Commissioner may consider necessary, direct—
(a) that any one or more of the particulars speci ed in
subsection (4) or (5) shall not be contained in a tax
invoice; or
(b) that a tax invoice is not required to be issued; or
(c) that the particulars speci ed in subsection (4) or (5)
be furnished in any other manner.
[Para. (c) added by s. 91 (b) of Act 53 of 1999.]
(8) Notwithstanding anything in this section, where a supplier makes a supply (not being a taxable supply)
54
(a) (i)
The name of the supplier and—
(aa) where the supplier is a natural person, his
identity number; or
(bb) where the supplier is not a natural person,
the name and identity number of the natural person representing the supplier in respect of the supply and any legally allocated registration number of the supplier:
Provided that the recipient—
(A) shall verify such name and identity number
of any such natural person with reference to his identity document, as contemplated in section 1 of the Identi cation Act, 1997 (Act 68 of 1997), and retain a photocopy of such name and identity number appearing in such identity document; or
(B) shallverifysuchnameandregistrationnumber of any supplier other than a natural person with reference to its business letterhead or other similar document and retain a photocopy of such name and registration number appearing on such letterhead or document; and
the address of the supplier;
(ii)
(b) the date upon which the second-hand goods
were acquired or the goods were repossessed or
surrendered, as the case may be;
[Para. (b) substituted by s. 176 (1) (b) of Act 31 of 2013 – date of commencement: 1 April 2014; the substituted wording applies in respect of goods surrendered on or after that date.]
(c) a description of the goods;
(d) the quantity or volume of the goods; (e) the consideration for the supply; and (f) proof and date of payment.
[Sub-s. (8) amended by s. 35 of Act 27 of 1997, by s. 94 (e) of Act 30 of 1998, by s. 91 (c) of Act 53 of 1999, by s. 104 (1) (f) of Act 32 of 2004 and by s. 38 of Act 21 of 2006 and substituted by s. 30 (b) of Act 8 of 2010.]
21 Credit and debit notes
(1) This section shall apply where, in relation to the supply of goods or services by any registered vendor— (a) that supply has been cancelled; or
(b) the nature of that supply has been fundamentally
varied or altered; or
(c) the previously agreed consideration for that supply
has been altered by agreement with the recipient, whether due to the offer of a discount or for any other reason; or
(d) the goods or services or part of the goods or services supplied have been returned to the supplier, including the return to a vendor of a returnable container, the vendor in such case being deemed for the purposes of this Act to have made the supply of the container in respect of which the deposit was charged, whether the supply was made by him or any other person; or
[Para. (d) substituted by GN 2695 of 8 November 1991 and by s. 26 (1) (a) of Act 136 of 1992.]
(e) an error has occurred in stipulating the amount of consideration agreed upon for that supply,
Juta’s IndIrect tax 2016