6. The following new section is hereby inserted immediately after section 5 of the principal enactment and shall have effect as section 5A of that enactment : -
| 5A. Where any person who carries on the business of a manufacturer, producer or importer of any excisable article sells such excisable article for the purpose of distribution at a price which, in the view of the Director-General, reduces or would reduce the excise duty payable by him, than, for the purposes of this Act, such excisable article shell be deemed to have been sold at a price, which in the opinion of Hit: Director-General, it would have fetched m the open market on the date of such sale and the excise duty leviable from such person shall be computed accordingly. |
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Sri Lanka Consolidated Acts