2. Section 10 of the Turnover Tax Act, No. 69 of 1981 (hereinafter referred to as the " principal enactment") is hereby amended by the substitution for the words " shall be deemed to foe a defaulter for the purposes of this Act.", of the following; " shall be deemed to be a defaulter for the purposes of this Act: Provided, however, that where the turnover of any business for any previous quarter exceeds fifteen million rupees, the turnover tax payable for the succeeding quarter shall be paid in the following manner:
| (a) one-third of the turnover tax payable for the previous quarter shall be paid not later than the fifteenth day of the second month in the succeeding quarter; |
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| (b) one-third of the turnover tax payable for the previous quarter shall be paid on or before the fifteenth day of the third month in the succeeding quarter; |
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| (c) the turnover tax payable for the succeeding quarter after deducting there from the amounts paid under paragraph (a) and paragraph (b), shall be paid not later than the fifteenth day of the month following the end of that quarter. |
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Any tax not so paid shall be deemed to be in default and the person by whom such tax is payable or where such tax is payable by more than one person, or by a partnership, then each of such persons and each partner in the partnership shall be deemed to be a defaulter for the purposes of this Act. ". |
Sri Lanka Consolidated Acts