2. Amendmeni of section 2 of Act…

Section 2 of the Goods and Services Tax Act, No. 34

of 1996 (hereinafter referred to as the “principal enactment’)

is hereby amended by the repeal of subsection (3) of that section and the substitution therefor of the following subsection:

“(3) The tax on importation of goods shall be charged, levied and collected as if it were a cusioms duty and as if all goods imported into Sri Lanka are dutiable and liable to customs duty. These provisions shall not be applicable to any goods entered into customs bonded area in terms of the Customs

Ordinance :

:

Provided however, that the Director-General of

Customs may defer the payment of the tax due on any goods imported by a registered person who imports goods to be used for the purposes of manufacture and exports the goods so manufactured, or any other person referred to in subsection (6) of section 22, for a period not exceeding forty-five days or such other period not exceeding ninety days as may be determined by the

Minister by notification published in the Gazette, from the date of importation of such goods, subject to the furnishing of a bank guarantee or a corporate guarantee which covers the amount of the tax due on the goods so imported.”.

2—D 047342 —

9,550 (98/03)