7. Section 152 of the principal Act, as amended by Act No. 50 of 1968, is hereby further amended by the addition, at the end of that section, of the following new sub-section: -
| " (3) Where any person carrying on a business has paid the business turnover tax in respect of that business for one or more of the quarters in any year of assessment commencing on or after October 1, 1971, and the turnover of that business for that year of assessment-
such person shall, upon application made within three years after the expiry of that year of assessment, be entitled to a refund of the business turnover tax paid by him in respect of such quarter or quarters.". | | (a) in the case where that business was carried on during the entirety of that year of assessment, is less than seventy-five thousand rupees, or | | |
| | (b) in the case where that business was carried on for only a part of that year of assessment, is less than the sum which bears to seventy five thousand rupees the same proportion as the number of days in the period during which he carried on that business in that year of assessment bears to three hundred and sixty-five, | | |
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Sri Lanka Consolidated Acts