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I do not have any WET or LCT obligations. Does a refund from my Annual GST return affect my status as an instalment payer?

April 26, 2017affect annual GST instalment lct obligations refund Return Status wet

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I do not have any WET or LCT obligations. Does a refund from my Annual GST return affect my status as an instalment payer?

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If the refund is solely a result of the instalments being greater than the amount of net GST calculated [2B is greater than 2A on the Annual GST return] you can stay in the GST instalment system. However, if your refund is a result of the amount of GST paid being greater than the amount of GST collected [1B is greater than 1A on the Annual GST return], you are in a net refund situation and cannot continue to use the GST instalment option. At quarter 1 of the next financial year you must revert to Option 1 or Option 2.