Please explain...Ganesh

Please explain the following paragrph in a simple English:

Under an accrual system of recognising GST the GST is recognised and due on the next available BAS when the business or their clients are invoiced or it is a cash transaction when cash is received or paid

Hello Ganesh,

That was quite a challenge! I had to dig around for those acronyms, but if the source of this sentence is Australia, then I think I’ve pieced it together (but it’s guesswork). I’m not sure I can manage ‘simple’ English for this one though!

First, the long, detailed explanation:
This is a system of adding together the interest over a period of time (accrual) in order to determine the appropriate level of Goods and services Tax (GST) due. Under such a system, the amount due in taxes is then authorized (=accredited=recognized) and due on the next Business Activity Statement (BAS). When the statement is drawn up then either the business/clients are invoiced for the taxable amount or they undertake a straightforward (and presumably more immediate) cash transaction.

So the short version is something like:
under this system of taxation, the tax is added to the Business Activity Statement and arrangements are put into place for payment to be made.

Does that make sense?