Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsPenalty for incorrect returns
| 38. Where in an assessment made on any person, the tax exceeds, the tax paid by him as the amount due from him in respect of the taxable supplies specified in his return and the assessment is final and conclusive under section 37, the Commissioner-General may, unless the person proves to the satisfaction of the Commissioner-General that there was no fraud or willful neglect involved in the disclosure of the taxable supplies made by that person in such return, in writing, order that person to pay, on or before a specified date, as penalty for making an incorrect return, a sum not exceeding twenty-five thousand rupees and a sum equal to twice the amount of the difference between the total tax claimed in the assessment and the tax paid on the return. |