T-0.1 - Act respecting the Québec sales tax

Section 427.7 Disposition versions

1995-12-15

427.7. An authorization granted to a registrant at any time under section 427.3 is deemed to have been revoked, effective after the last day of a fiscal year of the registrant ending after that time, where the fraction determined in subparagraph 1 exceeds the fraction determined in subparagraph 2:

(1)  the fraction determined by the formula

A / B;

(2)  the fraction determined by the formula

C / D.

For the purposes of these formulas,

(1)  A is the total of all consideration paid or payable by the registrant for items of inventory that were acquired in Québec by the registrant in the fiscal year in the course of a business of the registrant and in respect of which the registrant provided to the suppliers thereof a shipping certificate;

(2)  B is the total of all consideration paid or payable by the registrant for items of inventory that were acquired in Québec by the registrant in the fiscal year in the course of that business;

(3)  C is the total of all consideration, included in determining the income from that business for the fiscal year, for supplies made outside Québec by the registrant of items of inventory of the registrant that were not consumed, used, processed, transformed or altered after having been acquired in Québec or brought into Québec by the registrant and before being so supplied by the registrant; and

(4)  D is the total of all consideration, included in determining that income, for supplies made by the registrant of items of inventory of the registrant.

1995, c. 63, s. 457.