(1) The tax payable by a taxable person for a tax period in respect of taxable supplies is the total amount of output tax payable by the person in respect of taxable supplies made by the person during the tax period, less the total input tax deduction allowed to the person under section 30 for the tax period.
(2) Where the total amount of input tax deduction allowed to a taxable person for a tax period under subsection (1) exceeds the total amount of output tax payable by the person for that tax period, the amount of the excess is dealt with in accordance with section 57.