Section No : Legislative Enactments TURNOVER TAXMarginal Notes1. This Act may be cited as the Turnover Tax Act, No. 69 of 1981.2. Imposition of turnover tax.[2, 8 of 1997][2, 46 of 1998]3. Circumstances in which a person becomes chargeable with turnover tax.4. Exemption from turnover tax.5. Turnover. [2, 47 of 1984][2, 9 of 1987][2, 43 of 1990][2, 27 of 1993][3, 8 of 1997][3, 46 of 1998]6. Different business deemed to be one business. [3, 9 of 1987]7. Rate of turnover tax.[4, 9 of 1987]8. Excepted Articles.9. Returns and information to be furnished.[5, 9 of 1987][3, 27 of 1993]10. Payment of turnover tax. [2, 39 of 1983] [3, 47 of 1984]11. Penalty for default.12. Levy of turnover tax on articles manufactured abroad and imported into Sri Lanka and collection of such tax.[6, 9 of 1987] [4, 46 of 1998]13. Power of assessor to make assessments.14. Additional assessments. 15. Assessor to give reasons for not accepting a return. 16. Power of Assessor to estimate sale price.17. Appeals to the Commissioner General.[8, 9 of 1987][4, 27 of 1993]18. Appeal to the Board of Review.19. Appeal on a question of law to the court of Appeal.20. Assessments or amended assessments to be final. [9, 9 of 1987]21. Penalty for underpayment of turnover tax.[2, 54 of 1985]22. Who may act for incapacitated person.23. Precedent partner to act on behalf of partnership.24. Principal officer to act on behalf of a company or body of persons. 25. Liability to pay turnover tax in the case of cessation of business.26. Liability of executor to pay turnover tax.27. Liability of certain persons to pay turnover tax in respect of business not belonging to them.28. Joint agents, trustees and executors. 29. Persons liable to pay turnover tax upon liquidation of a company or dissolution of a body of persons. 29A. Certain transactions and dispositions to be disregarded.[10, 9 of 1987]30. Meaning of turnover tax for the purposes of section 31 to 38.31. Turnover tax to be a first charge. 32. Notice to defaulter.[11, 9 of 1987]33. Recovery of turnover tax by seizure and sale. 34. For the purposes of this section" movable property". shall include plant and machinery.35. Recovery of turnover tax out of debts, & c.36. Recovery of turnover tax from persons leaving Sri Lanka.[12, 9 of 1987]37. Use of more than one means of recovery.38. Power of Commissioner-General to obtain information for the recovery of turnover tax.39. Delegation of Commissioner-General to obtain information for the recovery of turnover tax.40. Validity of assessments.41. Signature and service of notices.42. Power to search buildings or places.43. Power to search business premises.44. Vouchers to be prepared and issued by every person chargeable with turnover tax.[3, 39 of 1983][13, 9 of 1987]45. Register of transactions.46. Registration of manufacturer and issue of vouchers by him.[4, 39 of 1983][2, 6 of 1989]47. Deduction by registered manufacturer.[15, 9 of 1987][3, 43 of 1990][5, 46 of 1998]48. Deduction tax paid to Director- of Customs.[5, 39 of 1983] [4, 43 of 1990] [6, 46 of 1998]48A. Deduction by manufacturer of turnover tax paid on machinery or equipment.[2, 31 of 1992][5, 27 of 1993][4, 8 of 1997]48B. Deduction by manufacturer of turnover tax paid on machinery or equipment for any quarter commencing on or after January 1.1993.[6, 27 of 1993][5, 8 of 1997]49. Turnover tax paid in excess to be refunded.[6, 39 of 1983][2, 6 of 1988][5, 43 of 1990][6, 8 of 1997]50. Deduction of turnover tax from payments.[7, 39 of 1983][16, 9 of 1987][6, 43 of 1990][7, 8 of 1997]50A. With holding turn-over tax on sales by importers and manufacturers.[3, 6 of 1989][2, 13 of 1991]50B. Application of Provisions of this Act with holding turn over tax.[3, 6 of 1989]51. Breach of secrecy and other matters to be offences.52. Penal provisions relating to fraud.53. Penal provisions relating to returns etc.[17, 9 of 1987][4, 6 of 1989]54. Compounding of offences.55. Prosecution to be with the sanction, of the Commissioner-General.56. Administration.57. Official secrecy.[3, 54 of 1985]58. Forms and register of transactions. 59. Interpretation.[18, 9 of 1987][7, 43 of 1990][3, 13 of 1991]60. Application of part xii of the finance act, no. 11 of 1963