(1)  This section applies to all gaming endorsements except –

(a) a simulated gaming endorsement; and

(ab) a betting exchange endorsement; and

(ac) a simulated racing event endorsement; and

(b) if an amount has been prescribed under section 150A(7) , a major lottery endorsement.

(2)  A licensed provider may set off against the tax payable under section 150A any goods and services tax paid during the relevant month arising in respect of a gaming endorsement to which this section applies.

(3)  If, in any month, the amount of goods and services tax paid in respect of an endorsement to which this section applies exceeds the amount of tax payable under section 150A in respect of that endorsement, that excess may be set off in any subsequent month in the same financial year against the tax payable under that section.

(4)  The amount of any credit provided to a licensed provider of goods and services tax paid in respect of an endorsement to which this section applies in any financial year is limited to the amount of tax payable under section 150A in respect of that endorsement for that financial year.

(5)  Within 14 days after the end of a financial year, a licensed provider must submit a return to the Commission stating –

(a) the amount of tax payable under section 150A in respect of each gaming endorsement to which this section applies for that financial year; and

(b) the amount of goods and services tax paid in that financial year in respect of each gaming endorsement to which this section applies; and

(c) the amount of credit given in respect of the amount of tax payable under section 150A in respect of each gaming endorsement to which this section applies for that financial year.

(6)  Subject to subsection (4) , where the amount of goods and services tax paid in respect of a gaming endorsement to which this section applies for a financial year by a licensed provider exceeds the amount of credit given in respect of that gaming endorsement for that financial year, the difference between those amounts is to be credited to the licensed provider at the time of the next payment of tax required under this Act.

(7)  Subject to subsection (4) , where the amount of goods and services tax paid in respect of a gaming endorsement to which this section applies for a financial year by a licensed provider is less than the amount of credit given in respect of that gaming endorsement for that financial year, the difference between those amounts is to be paid by the licensed provider at the time of the next payment of tax required under this Act.