a description sufficient to identify the goods or services supplied.the reference number of RMCD’s approval.the word ‘self-billed invoice’ in a prominent place. the supplier’s and recipient’s names, addresses and identification numbers.the recipient shall issue a self-billed invoice e showing the following particulars: in the case where the self-billed invoice is issued before the time of removal of such goods, or before the time the goods are made available, or before the time the services are performed, the selfbilled invoice shall be issued with payment.a copy of any self-billed invoice is provided to the supplier and another copy is retained by the recipient.the document may, with the prior approval of the Director General, be treated as a tax invoice.the supplier and the recipient agree that the supplier shall not issue a tax invoice in respect of any supply the recipient and the supplier agree in writing to a self-billed invoice iv.the recipient and the supplier are both registered persons or any supplier approved by the Director General.the value is not known by the supplier at the time of making the supply.The issuance of this self-billed invoice by the recipient to himself under subsection 33(3) of the GST Act 2014 shall be subject to the following conditions: Therefore, for GST purpose the recipient of the goods is allowed to issue an invoice to himself which is deemed to be a tax invoice in respect of a supply of goods or services to him by another registered person or any person approved by the Director General. Under certain circumstances, the value of supply is determined by the person who receives the goods. You will have to ensure that any errors made on buyer-created tax invoices are corrected and the supplier is duly informed. You will have to ensure that the correct GST amount is charged for the goods and services supplied to you. Some customers may also prefer self-billing as it facilitates their internal controls and accounting system given that their suppliers will be working with uniform purchase documentation.īefore you apply for self-billed invoice, you should consider the following points: You will have added responsibilities to ensure that the conditions of self-billings are satisfied. Hence, it is more convenient for the customer, rather than the supplier, to issue the tax invoice. publication industry, the business arrangement with customers is that the customers will determine and verify the final value of the goods delivered or the services rendered to them. Self-billed invoice is an arrangement between a GST-registered supplier and a GST-registered customer in which the customer prepares the supplier’s tax invoice and forwards a copy to the supplier. You may only issue self– billed invoices to your suppliers if: they have agreed to this method of accounting. The supplier receives a copy of the information recorded in the time sheet for review.Self– billing is a commercial arrangement between a supplier and a customer in which the customer prepares the supplier’s invoice and forwards a copy to the supplier with the payment.Timesheets need to be approved by the contractor’s manager in Euroclear before the last business day of the month to be included in that month’s invoice and payment.We will also inform the contractor of this requirement. The supplier should inform the contractor that all hours worked for the month should be entered two days before the last business day of the month, at the latest.The supplier must ensure that their contractors enter their hours in their OTL timesheet on a weekly basis.The supplier is responsible for checking the accuracy of the PO and contacting us immediately if any corrections are required.The supplier should receive a PO before the contractor is due to start, and/or if the contractor’s contract is being extended.Note: this feature is subject to an agreement between the consultancy firm/recruitment company and us. It is primarily for consultancy firms/recruitment companies issuing invoices to us based on the time and attendance input by their contractor working in Euroclear. ‘Self-billing’ is an additional feature we offer for efficient invoice processing.
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