12. Section 23 of the principal enactment as amended by Act, no. 24 of 1997, is hereby further amended as follows :-
| (1) in subsection (1) of that section"
| | (a) in paragraph (eee) of that subsection"
| | | (i) by the substitution, in sub-paragraph (ia) of that paragraph, for the words and figure "(other than plant, machinery or fixtures referred to in sub-paragraph (ii)", of the words and figures "(other than plant, machinery or fixtures referred to in sub-paragraph (ii) or (iia))"; |
| (ii) by the substitution in sub paragraph (ii) of that paragraph, for the words and figures "any motor vehicle, lorry, bus., tractor, trailer or office furniture acquired by such person on or after April 1, 1987," of the words and figures "any motor vehicle, lorry, bus, tractor, trailer or office furniture (other than any motor coach, referred to in sub-paragraph (iia)) acquired by such person on or after April 1, 1987;'"; |
| (iii) by the insertion, immediately after subparagraph (ii), of that paragraph of the following sub-paragraph :"
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| | (b) by the substitution in paragraph (t) of that subsection, for the words "a special levy, to the Government.", of the word 'a special levy to the Government ; and ; "; | | |
| | (c) by the addition, as the end of paragraph (t) of that subsection, of the following paragraph :-
| | | "(u) any expenses incurred on or after November 6, 1997, but on or before March 31, 1999 by any company in obtaining quotation of the shares of such company, in any official Published by any Stock Exchange licensed by the Securities and Exchange Commission of Sri Lanka, if such quotation is so contained on or before March 31, 1999." |
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| (2) in subsection (7) of that section"
| | (a) by the substitution in sub-paragraph (ii) of paragraph (c), of that subsection the words "is other wise than sale," words :" | | |
| | (b) in sub-paragraph (iii) of paragraph (f) of that subsection, by the substitution for the words "by such individual or partnership", of the words " "by such individual or partnership ; " ; | | |
| | (c) by the addition at the end of sub-paragraph (iii) of paragraph (f) of that subsection of the following paragraph :"
| | | "(iv) where any person is entitled, under the Goods and Services tax Act, No. 34 of 1996, to claim credit for input tax paid in relation to the acquisition or the construction of any capital asset, the cost of acquisition or the cost of construction, as the case may be, of such capital asset shall not include such input tax". |
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Sri Lanka Consolidated Acts