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How does the government collect GST?

In Canada it is the registrants who collect GST/HST from the people to whom they provide their goods and services. Depending on their filing frequency of thier GST/HST returns (monthly, quarterly or annually), they indicate the amount of GST/HST that they have collected as well as the GST/HST that they paid as inputs to their commercial activity (input tax credits). The input tax credits are deducted from the GST/HST collected and the balance (positive or negative) becomes their net tax. They then either remit (if a positive amount) or claim their "refund" (negative amount). The government doesn't actually "collect" the tax, they receive it from their tax collectors...the GST/HST registrants.


Do you put GST or HST on the balance sheet?

HST paid goes on the credit side or expenses on the balance sheet


How do you calculate annual ordering cost?

hst


Are Indians HST tax exempt?

Indians are tax exempt on the provincial portion of the HST (8%) when they present their tax status card. For more details on this follow this link to the government communique about Indian tax status in regards to the HST: http://www.rev.gov.on.ca/en/taxchange/firstnations.html


Is Canadian HST paid on a lease expensed or capitalized?

In Canada, the Harmonized Sales Tax (HST) paid on a lease is typically expensed as part of the lease payments. For businesses, this means the HST can usually be claimed as an input tax credit (ITC) if the lease is for commercial use. However, if the lease is considered a capital lease, the treatment may vary, and the HST could potentially be capitalized. Always consult with a tax professional for specific situations.

Related Questions

How does the government collect GST?

In Canada it is the registrants who collect GST/HST from the people to whom they provide their goods and services. Depending on their filing frequency of thier GST/HST returns (monthly, quarterly or annually), they indicate the amount of GST/HST that they have collected as well as the GST/HST that they paid as inputs to their commercial activity (input tax credits). The input tax credits are deducted from the GST/HST collected and the balance (positive or negative) becomes their net tax. They then either remit (if a positive amount) or claim their "refund" (negative amount). The government doesn't actually "collect" the tax, they receive it from their tax collectors...the GST/HST registrants.


When was the HST created?

1975 - 1982 Was The Build Date Of The HST


What is the difference between the HST and other land telescopes?

the hst is in space....


Is gst or hst included in mileage reimbursement?

Is hst included in mileage reimbursement


What time in Hst at 6 pm est?

1 PM HST. 5 hours difference between East Coast & HST right now.


What time is 1300 CST in HST?

1300 CST (Central Standard Time) is 9:00 AM HST (Hawaii-Aleutian Standard Time). CST is 10 hours ahead of HST. Therefore, to convert from CST to HST, you subtract 10 hours.


What is the difference between range rover hse and hst?

difference between Range Rover HSE / HST


When was the hubbe speca telescopes HST first launchad into orbit?

The HST was only launched once, in 1990 .


Is HST still working?

No, the Hubble Space Telescope (HST) is currently experiencing technical difficulties after a problem with its payload computer. NASA is working to resolve the issue and bring HST back online.


What was DDE's predecessor?

hst


How much is the hst?

It is 13%


Is the HST still there?

Yes, it is.