GST Act Sample Clauses

GST Act. All amounts payable or consideration to be provided under this Agreement are exclusive of GST, as such term is defined in the GST Act. If GST is payable on any supply made under or in connection with this Agreement, for which the consideration is not expressly stated to include GST, the recipient agrees to pay to the supplier an additional amount equal to the GST payable at the same time that the consideration for the supply, or the first part of the consideration for the supply (as the case may be), is to be provided; provided, however, that: (i) the recipient need not pay the additional amount until the supplier gives the recipient a tax invoice or an adjustment note; (ii) if an adjustment event arises in respect of the supply, the additional amount must be adjusted to reflect the adjustment event and the recipient or the supplier (as the case may be) must make any payments necessary to reflect the adjustment; and (iii) this Section 8.10 does not apply to the extent that the GST on the supply is payable by the recipient under Division 84 of the GST Act. If a Party is required under this Agreement to indemnify another Party, or pay or reimburse costs of another Party, that Party agrees to pay the relevant amount less any input tax credits to which the other Party (or to which the representative member for a GST group of which the other Party is a member) is entitled. If an amount payable under this Agreement is to be calculated by reference to (i) the price to be received for a taxable supply then, for the purposes of that calculation, the price is reduced to the extent that it includes any amount on account of GST and (ii) the price to be paid or provided for an acquisition then, for the purposes of that calculation, the price is reduced to the extent that an input tax credit is available for the acquisition.