Section No :

Legislative Enactments VALUE ADDED TAX Marginal Notes 1. This Act may be cited as the Value Added Tax Act No. 14 of 2002 and shall come into operation on August 1, 2002 2. imposition of Value Added Tax[ 2,7 of 2003] [ 2,13 of 2004] [ 2,6 of 2005] [2, 8 of 2006] [ 2,15 of 2008] [ 2,15 of 2009] [ 2, 9 of 2011] [ 2, 7 of 2012] [ 2,17 of 2013][2, 11 of 2015] [2, 20 of 2016] [2, 9 of 2021] [2, 16 of 2024] 2A. Minister may vary the rates by Order. [3, 6 of 2005] 3. Tax not be charged on wholesale or retail supply of goods.[3, 11 of 2015] [3, 20 of 2016] [3, 9 of 2021] 4. time of supply, 5. Value or supply of goods or services [ 2,14 of 2007] [4, 17 of 2013][4, 11 of 2015] [13, 7 of 2014] [4, 20 of 2016] [2, 25 of 2018] 6. The value of goods imported. [5, 6 of 2005] [2,49 of 2006] [2, 19 of 2019] 7. Zero Rating [5,11 of 2015] [3, 19 of 2019] [4, 9 of 2021] 1267-5-2002 8. Supplies and Importation exempted from Tax [3, 7 of 2014][6, 11 of 2015] [5, 20 of 2016] 9. Goods or services supplied in Sri Lanka 10. Persons making supplies in the course of a taxable activity to be registered.[ 3, 15 of 2009] [5, 17 of 2013] [4, 7 of 2014][7, 11 of 2015] [6, 20 of 2016] [5, 9 of 2021] [3, 44 of 2022] [3, 16 of 2024] 11. importers of goods to notify commissioner General. [ 3,7 of 2003] [6, 17 of 2013] 12. Voluntary registration.[7, 17 of 2013] [6, 9 of 2021] 13. Commissioner-General to call for information 14. Registered person.[ 4,7 of 2003] [8, 17 of 2013] 15. Certificate of Registration 16. Cancellation of Registration [3, 9 of 2011] [9, 17 of 2013][8, 11 of 2015] 17. Registered person to return certificate on cancellation.[9, 11 of 2015] 18. Liability not affected by cancellation of Registration 19. Registered person to notify certain changes[ 10, 11 of 2015] 20. Tax Invoice. [ 5,7 of 2003] [ 4 , 9 of 2011] [5, 7 of 2014] [7, 20 of 2016] 21. Returns and information to be furnished.[13, 7 of 2014] [11, 11 of 2015] [8, 20 of 2016] 22. Credit for input tax against output tax. [ 7,7 of 2003][ 3, 15 of 2008] [ 4, 15 of 2009] [ 5 , 9 of 2011] [ 3, 7 of 2012] [11, 17 of 2013] [6, 7 of 2014][ 12, 11 of 2015] [9, 20 of 2016] [3, 25 of 2018] [4, 19 of 2019] [7, 9 of 2021] [2, 32 of 2023] 23. Accounting basis 24. Bad Debt 25. Adjustment of tax by credit or debit notes 1310-10-2003 25A. Charge of value added tax on the supply of financial services by specified institution or any person. [ 8,7 of 2003] [ 8,13 of 2004][ 4, 15 of 2008] [ 5,15 of 2009] [ 4, 7 of 2012] [12, 17 of 2013] [13, 11 of 2015] [10, 20 of 2016] [4, 25 of 2018] 25B. Taxable period. [ 8,7 of 2003] [ 6, 9 of 2009] [13, 17 of 2013] [11, 20 of 2016] 25C. Calculation of tax. [ 8,7 of 2003] [ 9,13 of 2004] [ 5, 15 of 2008] [ 7, 9 of 2011] [14, 17 of 2013] [7, 7 of 2014] [14, 11 of 2015] [12, 20 of 2016] [5, 25 of 2018] [2, 13 of 2022] 25D. Tax credit. [ 8,7 of 2003] [15, 17 of 2013] [8, 7 of 2014] 25E. Chapters IV to XVI to be applicable to registered specified institutions under this Chapter, [ 8,7 of 2003] 25F. Interpretation. [ 8,7 of 2003] [ 15,11 of 2015] [13, 20 of 2016] 25G. Provisions of this Chapter to apply to a person supplying financial services. [ 12,13 of 2004] 25H. Imposition of optional value added tax. [ 6,14 of 2007][ 6, 15 of 2008] [ 8 , 9 of 2011] [16 , 17 of 2013] 25I. Registration. [ 6,14 of 2007] [ 6,15 of 2009] [ 9, 9 of 2011] [17, 17 of 2013] 25J. The value of supplies from any Islamic Financial Transactions to be chargeable to tax. [10, 9 of 2011] 25K. The use of electronic communications or electronic records[16, 11 of 2015] 26. Payment of Tax [ 9,7 of 2003][11, 8 of 2006] [18, 17 of 2013][ 17,11 of 2015] [5, 19 of 2019] 26A. " Deduction of VAT Advance Payments. [ 7,14 of 2007] [ 7, 15 of 2008] [ 11 , 9 of 2011] 27. Penalty for default [ 10,7 of 2003] 28. Power of Assessor to assessment [ 11,7 of 2003] [19, 17 of 2013] [18, 11 of 2015] [13, 7 of 2014] 29. Assessor to state why he is not accepting a return [13, 7 of 2014] 30. Power of Assessor to determine open market value [13, 7 of 2014] 31. Additional assessment.[13, 7 of 2014] 32. Evidence of returns and assessment 33. Limitation of time for assessment or additional assessment [ 12,7 of 2003] [ 12, 9 of 2011] [13, 7 of 2014] 34. Appeals to the Commissioner-General [13, 7 of 2014] [19, 11 of 2015] 35. Repealed .[ 14,7 of 2003] [ 7,15 of 2009] [ 13,9 of 2011] [14, 23 of 2011] 36. [ 13,9 of 2011] [14, 23 of 2011] 37. Assessments or amended assessments to be final.13, 7 of 2014] 38. Penalty for incorrect return 39. Recovery of Tax 40. Tax to be a first charge [9, 7 of 2014] 41. Notice to defaulter,[20, 11 of 2015] 42. Recovery of tax by seizure and sale. 43. Proceedings for recovery before a Magistrate.[14, 9 of 2011] 44. Recovery of Tax out of Debts[21, 11 of 2015] 45. Recovery of tax from persons leaving Sri Lanka. Abolition of the charging of the National security Levy with effect from August 1,2002. 46. Use of more than one means of recovery 47. Power of Commissioner-General to obtain information for the recovery of tax.[ 22, 11 of 2015] 48. Recovery of tax from the principal officer and others. 48A. 'Time Limit for the recovery of the lax in default.[ 8, 15 of 2008] 49. Commissioner-General to delegate powers and functions[13, 7 of 2014] 50. who may act for incapacitated person. 51. Precedent partner to act on behalf of partnership 52. Principal officer to act on behalf of a company or body of persons. 53. Liability to pay tax in case of cessation of taxable activity 54. Liability of executor to pay tax. 55. Liability of certain persons to pay tax in respect of a taxable activity not belonging to them [15, 9 of 2011] 56. Joint trustees and executors the persons who act as trustees or executors. 57. Persons liable to pay tax upon liquidation of a company or dissolutions of a body of persons. 58. Refund of excess tax. [ 16,7 of 2003] [ 16,9 of 2011] 58A. "Refund of tax to tourists. [14, 8 of 2006] repealed by [17 , 9 of 2011] [6, 25 of 2018] 59. Interests on refunds. [ 15,13 of 2004] [13, 7 of 2014] 60. Signature and service of notice. 61. Validity of assessments. 62. Power to search building or place. 63. Power to search where taxable activity is carried on or carried out. 64. Keeping of records. 64A. Certain transactions and dispositions to be disregarded.[ 20,17 of 2013] 65. Penal provisions relating to breach of secrecy & c. 66. Penal provisions relating to fraud[ 23, 11 of 2015] [14, 20 of 2016] 67. Panel provisions relating to returns & c. [ 17,7 of 2003] [ 18, 9 of 2011] [ 21,17 of 2013] 68. Prosecution to be with the sanction of the Commissioner-General. 69. Compounding of offence 70. Officers 71. Value added tax, Refund tax. [10, 7 of 2014] 72. Commissioner-General may pay rewards to informants. 73. official Secrecy.[16, 8 of 2006] 74. Forms 75. Regulations 75A. Section 75A Repealed by [ 16,13 of 2004] 76. Transitional provisions [ 17,13 of 2004] [ 8,14 of 2007] [15, 20 of 2016] 77. Amendments to the Inland Revenue Act No. 38 of 2000 78. National Security Levy paid under the National Security Levy Act, No. 52 of 1991 to be deemed to be input tax. 79. Indemnity 80. Savings 81. Abolition of the charging of the National Security Levy with effect from August 1,2002. 82. Abolition of the charging of the Goods and Services Tax with effect from August 1, 2002. 83. Interpretation [ 20,7 of 2003] [ 19, 9 of 2011] [11, 7 of 2014] [ 24,11 of 2015] [13, 7 of 2014] [3, 32 of 2023] 84. Sinhala text to prevail in case of inconsistency.