A New Tax System (Goods and Services Tax) Act 1999
Note:Division 162 - Payment of GST by instalments Subdivision 162-D - Penalty payable in certain cases if varied instalment amounts are too low 162-190 Periods for which penalty is payable
You are liable to pay the penalty under this Subdivision for each day in the period that:
(a) started at the beginning of the day by which the * GST instalment , for the * GST instalment quarter to which the charge relates, was due to be paid; and
(b) finishes at the end of the day before which you must, under section 162-110 , pay to the Commissioner your * assessed net amount for the * instalment tax period that includes that GST instalment quarter.
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