Quick Summary
To correct an error in a previously filed GST return in New Zealand, you typically use 'supply correction information' if it relates to an incorrect GST amount. For other errors, you may be able to amend the return through myIR or contact the IRD for specific guidance, depending on the nature and size of the error.
Details
Rectifying Mistakes in GST Returns
It's not uncommon for businesses to discover errors in their GST returns after they have already been filed. The Inland Revenue Department (IRD) provides processes for correcting these mistakes.
- For GST Amount Errors: If the error relates to an incorrect GST amount reported in a taxable supply or in your return, you would use 'supply correction information' (as introduced from 1 April 2023) to address this. This process replaced the use of debit and credit notes.
- Minor Errors: For small, minor errors that don't significantly impact the overall GST liability, you might be able to correct them in your next GST return.
- Significant Errors: For more substantial errors, especially those affecting previous periods, you may need to:
- Amend the specific return through myIR (if the option is available).
- Contact the IRD directly to explain the error and follow their instructions for correction.
Key Takeaway: Always ensure corrections are made accurately and promptly to maintain compliance and avoid potential penalties.
Source: GST guide (IR375)