How do I get back the GST I have paid out?
How do I get back the GST I have paid out?Answer: If you are operating a Canadian business and registered for the GST HST, you can get back the GST you’ve paid out during a particular reporting period by claiming it through Input Tax Credits (ITCs) on your GST HST return. When you complete your GST HST return, you declare the amount of GST HST you collected from various customers and deduct your Input Tax Credits (ITCs) from this amount to determine your GST net tax. If the resulting amount is negative, you will get a GST refund. Note that the general rules for claiming Input Tax Credits are just like the rules for claiming any business expenses; you must have receipts to back up your claims and you can only claim Input Tax Credits “to the extent that your purchases are for consumption, use, or supply in your commercial activities” (General Information for GST/HST Registrants, Canada Revenue Agency).
