GST Remittance

When you are doing your bookkeeping for your business, be sure to track your GST, and PST when applicable, in detail. When calculating your business GST, be sure to enter the amount of GST collected on your sales on the one line and the amount of your GST paid on purchases (ITC’s / Input Tax Credits) on the other line and calculate the difference and submit the difference to the CRA – Canada Revenue Agency.  If needed, call your accountant for details or hire an expert. Your business is too important!