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Level 1

If I have no sales in the quarter and have not collected GST but have ITC's from expenses do I still file a return or is it considered a NIL return?

 
2 Comments
QuickBooks Team

Re: If I have no sales in the quarter and have not collected GST but have ITC's from expenses do ...

Hello there, Jakubowski_holdi.

 

The filing of the sales tax return is of high-priority.

 

Though in your case, it's a NIL return. I'd suggest checking with your tax adviser if it's to be submitted or not. 

 

You can always visit the Community if you have other concerns. Have a good day! 

Level 1

Re: If I have no sales in the quarter and have not collected GST but have ITC's from expenses do I still file a return or is it considered a NIL return?

The ITCs will give you a credit refund to your account with Revenue Canada. Not a NIL remittance. They will send you a cheque, or deposit direct to your business account if you've set that up with them.

I've had ITCs that exceeded my GST collected on sales in a quarter, and received a refund of the difference. Once it was after a large purchase in a quarter, and another was after little or no sales  but with ongoing expenses related to business.