Sri Lanka Consolidated Acts

Value Added Tax Act (No. 14 of 2002)

TABLE OF PROVISIONS

           Long Title

   1.	   Short title and date of operation  
   2.	   imposition of Value Added Tax  
   3.	   Tax not be charged on wholesale or retai1 supply of goods  
   4.	   time of supply,  
   5.	   Value or supply of goods or services  
   6.	   The value of goods imported  
   7.	   Zero Rating  
   8.	   Supplies and Importation exempted from Tax  
   9.	   Goods or services supplied in Sri Lanka  
   10.	   Persons making supplies in the course of a taxable activity to be registered  
   11.	   importers of goods to notify commissioner General  
   12.	   Voluntary registration  
   13.	   Commissioner-General to call for information  
   14.	   Registered person  
   15.	   Certificate of Registration  
   16.	   Cancellation of Registration  
   17.	   Registered person to return certificate on cancellation  
   18.	   Liability not affected by cancellation of Registration  
   19.	   Registered person to notify certain changes  
   20.	   Tax Invoice  
   21.	   Returns and information to be furnished,  
   22.	   Credit for input tax against output tax  
   23.	   Accounting basis  
   24.	   Bad Debt  
   25.	   Adjustment of tax by credit or debit notes  
   26.	   Payment of Tax  
   27.	   Penalty for default  
   28.	   Power of Assessor to assessment  
   29.	   Assessor to state why he is not accepting a return  
   30.	   Power of Assessor to determine open market value  
   31.	   Additional assessment  
   32.	   Evidence of returns and assessment  
   33.	   Limitation of time for assessment or additional assessment  
   34.	   Appeals to the Commissioner-General  
   35.	   Appeals to the Board of Review  
   36.	   Appeal on a question of law to Court of Appeal  
   37.	   Assessments or amended assessments to be final  
   38.	   Penalty for incorrect return  
   39.	   Recovery of Tax  
   40.	   Tax to be a first charge  
   41.	   Notice to defaulter,  
   42.	   Recovery of tax by seizure and sale  
   43.	   Proceedings for recovery before a Magistrate  
   44.	   Recovery of Tax out of Debts  
   45.	   Recovery of tax from persons leaving Sri Lanka. Abolition of the charging of the National security Levy with effect from August 1,2002  
   46.	   Use of more than one means of recovery  
   47.	   Power of Commissioner-General to obtain information for the recovery of tax  
   48.	   Recovery of tax from the principal officer and others  
   49.	   Commissioner-General to delegate powers and functions  
   50.	   who may act for incapacitated person  
   51.	   Precedent partner to act on behalf of partnership  
   52.	   Principal officer to act on behalf of a company or body of persons  
   53.	   Liability to pay tax in case of ceasation of taxable activity  
   54.	   Liability of executor to pay tax  
   55.	   Liability of certain persons to pay tax in respect of a taxable activity not belonging to them  
   56.	   Joint trustees and executors the persons who act as trustees or executors  
   57.	   Persons liable to pay tax upon liquidation of a company or dissolutions of a body of persons  
   58.	   Refund of excess tax  
   59.	   Interests on refunds  
   60.	   Signature and service of notice  
   61.	   Validity of assessments  
   62.	   Power to search building or place  
   63.	   Power to search where taxable activity is carried on or carried out  
   64.	   Keeping of records  
   65.	   Penal provisions relating to breach of secrecy & c  
   66.	   Penal provisions relating to fraud  
   67.	   Panel provisions relating to returns & c  
   68.	   Prosecution to be with the sanction of the Commissioner-General  
   69.	   Compounding of offence  
   70.	   Officers  
   71.	   Value added tax, Refund tax  
   72.	   Commissioner-General may pay rewards to informants  
   73.	   official Secrecy  
   74.	   Forms  
   75.	   Regulations  
   76.	   Transitional provisions  
   77.	   Amendments to the Inland Revenue Act No. 38 of 2000  
   78.	   National Security Levy paid under the National Security Levy Act, No. 52 of 1991 to be deemed to be input tax  
   79.	   Indemnity  
   80.	   Savings  
   81.	   Abolition of the charging of the National Security Levy with effect from August 1,2002  
   82.	   Abolition of the charging of the Goods and Services Tax with effect from August 1, 2002  
   83.	   Interpretation  
   84.	   Sinhala text to prevail in case of inconsistency