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Very Important Business Pty Ltd and Commissioner of Taxation (Taxation) [2019] AATA 1120

TAXATION – GST – input tax credits – creditable acquisition – gold industry – whether taxpayer a refiner of precious metal – whether taxpayer regularly converts or refines precious metal in carrying on its enterprise – whether consideration provided or taxpayer liable to provide consideration – whether second-hand goods rules apply – form of tax invoices – serious shortcomings in evidence – unreliable and incomplete documents – insufficient information in invoices – recklessness as to operation of taxation laws – objection decision re assessment of net amount affirmed – objection decision re imposition of penalty affirmed – decision not to remit penalty affirmed

 

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