Credit Note and Debit Note Information (GST/HST) Regulations

The Credit Note and Debit Note Information (GST/HST) Regulations were made by the Governor General in Council, on the recommendation of the Minister of National Revenue, pursuant to subsections 232(3) and 277(1) of the Excise Tax Act. The regulations prescribe the information that is to be contained in a credit note or debit note relating to one or more supplies.

The prescribed information includes the name of the supplier or intermediary, the recipient's name, the date on which the credit note is issued, and the amount of the adjustment, refund or credit of tax. In certain cases, the note may include the total amount that includes the amount by which the consideration for one or more taxable supplies have been reduced, along with a statement to the effect that this total includes the adjustment, refund or credit of tax.

The regulations apply in these Regulations and define key terms such as "intermediary", which means a registrant who causes or facilitates the making of a supply by another person. The regulations also repeal certain provisions of the Excise Tax Act and make amendments to other regulations.