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As enacted
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Contents

6. Credit for Tax paid

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

Where any person to whom this Act applies, being a person referred to in paragraph (b) of subsection (1) of section 2—

(i)

is deemed, by virtue of subsection (2) of section 5

to have paid in any relevant quarter, the tax in respect of any article imported by him;

(ii)

has paid the tax under section 4 in respect of any article purchase by him from another person referred to in that paragraph, being in either case an article which is used exclusively in his business of manufacture, he shall be entitled to credit for the tax so paid against the tax payable under section 4 for that relevant quarter:

Provided that where such credit for any relevant quarter exceeds the tax so payable for that quarter, the excess shall be deemed to be an advance payment of the tax made under section 4 for the relevant quarter immediately succeeding that relevant quarter.

Read on from s 7

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