GST Amount Clause Samples
The GST Amount clause defines how Goods and Services Tax (GST) is to be handled in a contract. It specifies whether prices stated are inclusive or exclusive of GST and outlines the obligations of the parties regarding the payment and invoicing of GST. For example, it may require the supplier to provide a valid tax invoice and the recipient to pay the GST in addition to the agreed price. This clause ensures clarity and compliance with tax laws, preventing disputes over tax liabilities and payment responsibilities.
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GST Amount. The recipient must pay to the supplier an additional amount on account of GST (“the GST Amount”) equal to the consideration payable by the recipient to the supplier for the supply multiplied by the prevailing GST rate.
GST Amount. In addition to any amounts payable under this Agreement, the Customer is to pay Transpower an amount equal to any GST for which Transpower is liable in respect of the supply to which such payments relate (the “GST Amount”). The GST Amount is due and payable by the Customer at the same time as the payment in respect of which it is payable is due under this Agreement.
GST Amount. The additional amount:
(a) equal to the Price for the supply multiplied by the prevailing GST rate; and
(b) is payable, subject to the Supplier complying with clause 17.5, at the same time as the Recipient is required to pay or provide the consideration for the supply to which the additional amount relates.
GST Amount. Applicable GST is applied only to the administration fee.
GST Amount. 5% GST (2012 amount) is applied only to the administration fee.
GST Amount. The GST Amount is calculated by multiplying the payment by the prevailing GST rate, which rate is 10% as at the date of this Agreement.
GST Amount the GST Amount to FCF; and