2. of section 5…
ප්රතිචාර සහ සහායනිල ඉංග්රීසි පරිවර්තනය. එය සිංහල හෝ දෙමළ පාඨයට වඩා වෙනස් නම් බලපවත්වන පාඨය කුමක්දැයි පනතේම සඳහන් වේ.
Section 5 of the Turnover Tax Act, No. 69 of 1984
(hereinafter referred to as the “principal enactment”), is hereby amended as follows :—
in subsection (1) of that section—
by the substitution, in paragraph (c) of that subsection, for the words, “the total amount excluding premia received or receivable in respect of life insurance ;”, of the words,
“the total amount excluding premia receiv-ed or receivable in respect of—
life insurance
; and
insurance against damage or destruc-tion by strike, riot, civil commotion or acts of terrorism and paid into the
Government Fund for Strike, Riot and
Civil Commotion and Terrorism ;”;
and
by the substitution, in paragraph (f) of that subsection, for the words, “but shail not include receipts attributable to the opera-tion of the foreign currency banking unit of such bank ;”, of the words and figures “ but shall not include receipts attributable to—
the operation of the foreign currency banking unit of such bank; and
any transaction which such bank enters into, on or after April 1, 1989, with any other bank ;”; and
by the addition, immediately after subsection (4)
of that section, of the following subsection :—
In ascertaining the turnover, for any quarter, of any business of manufacture of articles there shall be deducted an amount equal to 2—8 011042—7,460 (90/10)
No.
oa any excise duty under the Excise (Special
Provisions) Act, No. 13 of 1989, paid in respect of such article by the person who carries on such business:
Provided that where the amount so deductible for any quarter, exceeds the amount received or receivable, for that quarter, from the sale of any article in the course of carrying on such business of manufacture, the excess shall be carried forward to the quarter immediately succeeding “that quarter and shall be deductible in ascertaining the turnover of that business for that succeeding quarter and so on.”.