A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-7 - Special rules mainly about returns, payments and refunds  

Note:

The special rules in this Part mainly modify the operation of Part 2-7 , but they may affect other Parts of Chapter 2 in minor ways.

Division 168 - Tourist refund scheme  

168-10   Supplies later found to be GST-free supplies  

(1)    
If:

(a) you are paid an amount under subsection 168-5(1A) for a supply; and

(b) the supply is or becomes a * GST-free supply;

you become liable to repay the amount (the recoverable amount ) to the Commonwealth on the later of the following days (the due day ):

(c) the day you were paid the recoverable amount;

(d) the day the supply becomes a GST-free supply.

(2)    
You are liable to pay general interest charge on the whole, or any part, of the recoverable amount that remains unpaid after the due day for each day in the period that:

(a) starts on the due day; and

(b) finishes at the end of the last day at the end of which any of the following remains unpaid:

(i) the recoverable amount;

(ii) general interest charge on any of the recoverable amount.