A New Tax System (Goods and Services Tax) Act 1999
Chapter 2
-
The basic rules
Part 2-3
-
Importations
Division 15
-
Creditable importations
15-20
How much are the input tax credits for creditable importations?
The amount of input tax credit for a * creditable importation is an amount equal to the GST payable on the importation. However, the amount of the input tax credit is reduced if the importation is only * partly creditable .(a) this Act (for a list of provisions, see section
13-99
); and
(b) other GST laws (for example, see subsection
357-60(3)
in Schedule
1
to the
Taxation Administration Act 1953
(about the effect of rulings made under Part
5-5
in that Schedule)).
The amount of input tax credit for a * creditable importation is an amount equal to the GST payable on the importation. However, the amount of the input tax credit is reduced if the importation is only * partly creditable .
Note:
The basic rule for working out the GST payable on the importation is in section 13-20 . However, the GST payable may be affected by other provisions in:
View history note
Hide history noteThis information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.