A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 142.1 What this Division is about

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 142.1

Excess GST is not to be refunded if this would give an entity a windfall gain .

Note:   Refunding excess GST to a supplier will give it a windfall gain if it has already passed on the excess GST in the price of the supply (and not reimbursed the recipient).