Default GST definition

Default GST means any additional GST, penalty or other sum levied against the Club under the GST Act by reason of a non- payment of GST but does not include any such sum levied against the Club by reason of a default by the Club in remitting a GST to the relevant authority after payment of the same by the Customer to the Club.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Default GST means any additional GST, penalty (civil or otherwise), interest, or other sum imposed on the vendor (or where the vendor is or was a member of a GST group its representative member) under the GST Act or the Tax Administration ▇▇▇ ▇▇▇▇ by reason of non-payment of any GST payable in respect of the supply made under this agreement but does not include any such sum levied against the vendor (or where the vendor is or was a member of a GST group its representative member) by reason of a default or delay by the vendor after payment of the GST to the vendor by the purchaser.

Default GST has the meaning set forth in Section 8.3(l).

Examples of Default GST in a sentence

• Demand for Default GST will be made by the Vendor in writing and be accompanied by reasonable evidence of that person’s liability for Default GST.

• The Purchaser will indemnify the Vendor on demand for any Default GST that becomes owing by the Vendor to the IRD as a result of the Purchaser failing to pay an amount to the Vendor when due.

• In the event that GST or the Issuer becomes aware of any Default or Event of Default, GST or the Issuer, promptly after it becomes aware thereof, will give written notice thereof to the Trustee.

• Where any GST is not paid by the Hirer in accordance with this clause the Hirer will pay Default GST.

• As between Seller and Buyer, Seller will not be under any obligation to pay GST (or Default GST referred to in Section 7.3(b)) chargeable on or in respect of any Taxable Supply made under or pursuant to this Agreement to the IRD or to take any steps to minimize its liability in respect of that GST (or Default GST referred to in Section 7.3(b)) unless and until Buyer pays the corresponding payment to Seller.

More Definitions of Default GST

Default GST means any additional GST, penalty (civil or otherwise), interest, or other sum imposed on the Landlord (or where the Landlord is or was a member of a GST group its representative member) under the GST Act or the Tax Administration Act 1994 by reason of non-payment of any GST payable in respect of the supply made under this lease but does not include any sum levied against the Landlord (or where the Landlord is or was a member of a GST group its representative member) by reason of a default or delay by the Landlord after payment of the GST to the Landlord by the Tenant.

Default GST means any interest, late payment penalty, or shortfall penalty, or other sum imposed on LOSCAM under the Tax Administration Act 1994 by reason of non- payment of any GST payable in respect of any supply made under this agreement but does not include any such sum levied against LOSCAM by reason of a default by LOSCAM after payment of the GST to LOSCAM by the Hirer.

Default GST means any interest, or late payment penalty, or other sum imposed on The Trusts Arena under the relevant taxation legislation by reason of non payment of the GST payable in respect of the supply made under this Agreement but does not include any such sum levied on The Trusts Arena by reason of default by The Trusts Arena after payment of the GST to The Trusts Arena by the Hirer.

Default GST in this clause means any interest, penalty or other sum levied against Seller under the GST Act by reason of non-payment of the GST payable in respect of the supply made under this Agreement, but does not include any such sum levied against Seller by reason of a default by Seller after payment of the amounts payable pursuant to this clause to Seller by Buyer.

Default GST means any interest, or late payment penalty, or shortfall penalty, or other sum imposed on the Council under the Tax Administration Act 1994 by reason of non-payment of the GST payable in respect of any supply made under this instrument;

Default GST means any additional GST, penalty (civil or otherwise), interest or other sum levied against a party who supplies goods or services under the GST Act or the Tax Administration Act 1994 (NZ) by reason of non-payment or late payment of any amount of GST payable in respect of a taxable supply made under the Purchase Order;

Default GST means any additional AUS GST, penalty, interest or ----------- other sum levied against the Seller under the AUS GST Law by reason of non or late payment of the AUS GST payable in respect of the supply of any or all of the assets of the Business.