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A New Tax System (Goods and Services Tax) Act 1999
7‑1 GST and input tax credits7‑1 GST and input tax credits
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7‑1 GST and input tax credits
(1) GST is payable on *taxable supplies and *taxable importations. (2) Entitlements to input tax credits arise on *creditable acquisitions and *creditable importations.
For taxable supplies and creditable acquisitions, see Part 2‑2.
For taxable importations and creditable importations, see Part 2‑3.