2.
| (1) An Economic Service Charge (hereinafter referred to as " the service charge") shall, subject to the provisions of this Act, be charged from every person and every partnership for every quarter of every year of assessment commencing on or after April, I, 2006 (hereinafter in this Act referred to as "a relevant quarter") in respect of every part of the relevant turnover of such person or partnership for that relevant quarter, at the appropriate rate specified in the Schedule to this Act: |
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| (2) Notwithstanding the provisions of subsection (1), the service charge shall not be charged from any person or partnership for any relevant quarter, in circumstances wherein the relevant turnover of such person or partnership for that relevant quarter does not exceed rupees ten million: |
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| (3) In this section -
| | (a) " relevant turnover " in relation to any person or partnership and to any relevant quarter means the aggregate turnover for that relevant quarter of every trade, business, profession or vocation carried on or exercised by such person or partnership, as the case may be, in Sri Lanka whether directly or through an agent or more than one agent : | | |
| | (b) " turnover " in relation to any trade, business, profession or vocation and to any relevant quarter means the total amount receivable, whether actually received or not, from every transaction entered into in that relevant quarter in the course of such trade, business, profession or vocation carried on or exercised by such person or partnership, -
| | | (a) after deducting therefrom -
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| (b) after adding thereto, any sum received during that relevant quarter on account of any bad debt written off or allowed in any previous quarter : |
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Sri Lanka Consolidated Acts