Please note that these concessions are at the election of the supplier and do not require formally advising Inland Revenue, should the concession be elected into.
However, for some concessions there is a
requirement to notify GST registered customers or clients; this is to assist in ensuring that they do not incorrectly claim 15% GST when only 12.5% has been charged.
Notification may be by email or letter, which may incorporate a link to your business website.
We have included also the time of supply rules for a selection of supplies and the concessions that may be relevant for that particular type of supply.
Determining the time of supply is important for GST purposes as this is the point at which GST is triggered. Where the time of supply occurs on or prior to 30 September, GST is at 12.5%, where it occurs on or after 1 October, GST is at 15%.