Value Added Tax (Amendment) Act 2021

“any taxable period thereafter but for the period ending on or before November 30, 2019; and”;

“(vi) for the period commencing on December 1,

2019 and ending on December 31, 2019 and for any taxable period commencing on or after

January 1, 2020 at the rate of eight per centum

(of which the tax fraction is 2/27),”.

“where the supplier of such goods has exported such goods;” of the words “where the supplier of such goods has exported such goods for which payment is received in foreign currency through a bank in Sri Lanka licenced under the Banking Act,

No. 30 of 1988 within a period of six months from the end of the taxable period of which such exportation has taken place;”;

Lanka through a bank in Sri Lanka” of the words and figures “foreign currency from outside Sri Lanka through a bank in

Sri Lanka licenced under the Banking Act,

No. 30 of 1988 within a period of six months from the end of the taxable period of which supply of such service is provided”;

“(3) Notwithstanding the payment in respect of supply of goods or services referred to in subsection (1) of section 7 is not received in foreign currency through a bank in Sri Lanka licenced under the Banking Act, No. 30 of 1988

within a period of six months from the end of the taxable period of which such exportation has taken place or supply of such service is provided, as the case may be, where it is proved to the satisfaction of the Commissioner-General that such goods are exported or the services are performed, the rate specified in section 2 shall not apply on such supply of goods or services.”.

Schedule to the Act, is not less than” of the words and figures “exempted under PART II of the First

Schedule to this Act, for any period prior to January 1, 2020, is not less than”.

2013:

Provided however, the Commissioner-General may after affording the applicant an opportunity of being heard, and having regard to the nature of the business carried on by such applicant, the value of the taxable supplies made by such applicant in the two preceding taxable periods and

“Voluntary registration the probability that the value of his taxable supplies will not exceed the value referred to in section 10, refuse to register such applicant; and

Simplified Value Added Tax Scheme administered by the Commissioner-General unless-

or

Scheme as a Registered Identified Supplier as approved by the Commissioner-General.”.

thereof, by the repeal of sub-paragraphs (iii) and (iv)

and the substitution therefor of the following:-

“(iii) (a) rupees seventy five for any period commencing on or after August 16, 2018

but prior to November 1, 2019;

2019, but prior to January 1, 2021;

Harmonized Commodity Description and

Coding System Numbers for Custom Purposes;

2019, but prior to January 1, 2021;

Commodity Description and Coding System

Numbers for Custom Purposes.”;

“(vi) if the payment in respect of supply of goods or services referred to in subsection (1) of section 7 is not received in foriegn currency through a bank in Sri Lanka licenced under the Banking Act, No. 30 of 1988 within a period of six months from the end of the taxable period of which such exportation has taken place or supply of such service is provided, as the case may be.”;

of the words and figures “(14) For any period prior to the date of commencement of this (Amendment)

Act where any person”.

“(xxxi) machinery and equipment including medical, surgical and dental instruments, apparatus, accessories and parts thereof, hospital or medical furniture and drugs, chemical and similar items, as recommended by the Secretary to the Ministry of the

Minister assigned the subject of Health, as required for the provision of health services to address the COVID 19 pandemic, with effect from May 20, 2020.”;

April 1, 2019, other than any lease” of the words and figures “on or after April 1, 2019 but on or before

November 30, 2019, other than any lease”;

“(d) if such supply has taken place on or after December 1, 2019, by any person, other than any lease or rent of residential accommodation.”;

2018) of paragraph (b)as (Lii) and (Liii) respectively;

“(Liv) commencing on or after January 1, 2020

information technology and enabled services as shall be prescribed;

“(m)

with effect from the date of commencement of this (Amendment) Act, local supply of any goods [other than goods referred to in paragraph (c)], which would have been exempted on importation, if imported.”;.