A New Tax System (Goods and Services Tax) Act 1999
Chapter 2
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The basic rules
Part 2-1
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The central provisions
Division 7
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The central provisions
7-15
Payments and refunds
The amount * assessed as being the * net amount for a tax period is the amount that the entity must pay to the Commonwealth, or the Commonwealth must refund to the entity, in respect of the period.
The amount * assessed as being the * net amount for a tax period is the amount that the entity must pay to the Commonwealth, or the Commonwealth must refund to the entity, in respect of the period.
For payments and refunds (and GST returns), see Part 2-7 .
Note 1:
For assessment of net amounts, see Division 155 in Schedule 1 to the Taxation Administration Act 1953 .
Note 2:
Refunds may be set off against your other liabilities (if any) under laws administered by the Commissioner.
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