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Penalties and general interest charges

You have an obligation to comply with tax laws and you may be liable to pay a penalty or the general interest charge (GIC) if you revise a previous BAS to correct an over claimed fuel tax credit amount.

Penalties and the GIC may apply in either of the following circumstances:

  • you are correcting a mistake that reduces your entitlement to fuel tax credits and (as a consequence of not meeting the value and time limits), the correction must be made by revising the BAS in which the mistake occurred
  • you became aware of an adjustment before lodging your BAS but you did not include the adjustment on the appropriate BAS.

In these circumstances, the GIC will be calculated from the due date of the BAS on which the mistake was made or the BAS to which the adjustment relates.

You can claim the GIC as an income tax deduction.


If you receive an overpayment of fuel tax credits, the overpaid amount should be treated as tax that is due. This means that you must repay the overpayment plus any penalties and the GIC owing from the date of the overpayment.

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    Last modified: 23 Jul 2013QC 35869