In the province of Ontario and for HST/GST purposes, if you sell exempt rated services, you cannot collect HST AND if you also, sell zero rated revenue, you CAN claim ITC on purchases related to zero rated revenue. A True B False

In the province of Ontario and for HST/GST purposes, if you sell exempt rated services, you cannot collect HST AND if you also, sell zero rated revenue, you CAN claim ITC on purchases related to zero rated revenue. A True B False

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

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Chapter8: Subprime Lending Fiasco-ethics Issues

Section: Chapter Questions

Problem 3.5EC

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.

Question

In the province of Ontario and for HST/GST purposes, if you sell exempt rated services, you cannot collect HST AND if you also,
sell zero rated revenue, you CAN claim ITC on purchases related to zero rated revenue.
A) True
B False

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