Commentary

V3.529 Consignment note, delivery note or similar document

Part V3 Supplies, acquisitions and imports

V3.529 Consignment note, delivery note or similar document

V3.529 Consignment note, delivery note or similar document

A supply of goods sent or taken on approval, sale or return, or on similar terms is normally treated as taking place at the first to occur of the following times1

  1.  

    (1)     the time when it becomes certain that a supply has taken place;

  2.  

    (2)     12 months after removal of the goods; and

  3.  

    (3)     the time when a VAT invoice is issued in respect of the supply.

Where a VAT invoice is issued within 14 days after 1–3 above, the supply is treated as taking place at the time when the VAT invoice

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