South Dakota Administrative Rules
Title 64 - REVENUE
Article 64:06 - Sales tax
Chapter 64:06:01 - Administration of program
Section 64:06:01:41 - Returned merchandise
Current through Register Vol. 51, page 43, September 23, 2024
If a retailer sells tangible personal property or any product transferred electronically and the goods are returned by the customer, the transaction is handled as follows:
(1) If the retailer has included in gross sales the total selling price of the property and has remitted sales tax to the department, the retailer may claim a credit as returned goods for the amount of the sale on a subsequent sales and use tax return if sales tax was returned to the purchaser at the time the goods were returned; and
(2) If a retailer makes a time sale and has included in the gross receipts only the amount of each payment actually received from the time sale, the retailer may claim a credit as returned goods on a subsequent sales and use tax return the amount of the sale reported on prior sales and use tax returns if the retailer has returned to the customer the tax which the retailer collected on payments previously received from the customer.
General Authority: SDCL 10-45-47.1(2), 10-45D-13(3), 10-46E-11(3), 10-52A-7(3).
Law Implemented: SDCL 10-45-29, 10-45D-12, 10-46E-8, 10-52A-6.
