6. The following new section is hereby inserted immediately after section 48A of the principal enactment, and shall have effect as section 48B of that enactment :
| 48B.
| | (1) Where any registered manufacturer (hereinafter in this section referred to as the " first-mentioned manufacturer "), has during any quarter commencing on or after January 1 1993 paid"
| | | (i) to another registered manufacturer (hereinafter in this section referred to as the " second-mentioned manufacturer ") in respect of any transaction entered into during that quarter any sum which includes turnover tax, or |
| (ii) to the Director-General of Custom; Tinder section 12, during that quarter. any turnover tax, |
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| | (2) The residue of the turnover tax which is deductible in accordance with the provisions of subsection (1), after its deduction from the turnover tax in respect of the turnover referred to in subsection (1) for each of the eight quarters reckoned from the quarter in which the deduction was first made shall, subject to the provisions of section 49, be refunded : | | |
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Sri Lanka Consolidated Acts