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Tax to be accounted for on returns and payment of tax

Goods and Services Tax (General) Regulations

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—(1) Except as the Comptroller may otherwise allow or direct, any person required to furnish a return of tax in accordance with these Regulations shall pay to the Comptroller such amount of tax as is payable by him in respect of the period to which the return relates not later than the last day on which he is required by these Regulations to make that return.(2) Except as the Comptroller may otherwise allow or direct, any person assessed to tax under section 45 or 48 of the Act shall, notwithstanding any objection or appeal against the assessment, pay the tax assessed to the Comptroller within such time as the Comptroller may specify in the notice of assessment.(3) Where any amount of tax charged is required to be shown on any invoice, receipt, credit note, debit note or any other document, and that amount consists of any number of dollars and cents together with any fraction or part of a cent, that fraction or part of that cent —(a)if less than half of that cent, may be disregarded for the purposes of the Act; or(b)if in excess of half or equal to half of that cent, shall be deemed for the purposes of the Act to be an amount equal to one cent unless the Comptroller otherwise determines.

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