You may need to make adjustments that change the amount of GST you're liable to pay.
You may have an adjustment if one of the following occurs:
- the price of a sale or a purchase changed - for example, you provide a discount to a customer or receive a rebate from a seller
- a taxable sale you made, or a purchase you're entitled to a GST credit for, is cancelled (for example, where goods are returned)
- you write off a bad debt or you recover a previously written-off bad debt
- your actual use of a purchase or importation for business purposes differs from your intended use.
There are also other circumstances where you may be required to make an adjustment, such as when you:
- cease registration
- sell something you used for making financial supplies.
See also:
If an event occurs that alters the GST you reported on a previous business activity statement - for example, goods are returned and the sale is cancelled - you may need to make an adjustment. If you need to correct a mistake you made in a previous business activity statement, you may need to lodge a revised business activity statement.