16.
| (1) A registered person may make an application to have his registration cancelled at any time after the lapse of a period of twelve months following the date of registration, either under this Act or under the Goods and Services Tax Act, No. 34 or 1996 where such registered person has ceased to carry on or carry out a taxable activity or the total value of his supplies during any taxable period within such period docs not exceed the value set out in section 10. |
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| (2) The Commissioner-General
| | (a)shall on receipt of an application made under subsection (1); | | |
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| (3) The Commissioner-General may refuse to cancel the registration of any person where he is of the opinion that such person has not ceased to carry on or carry out a taxable activity or that it is necessary and expedient to continue with his registration for the protection of revenue. |
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| (4) Where the Commissioner-General cancels the registration of a Registered person he shall inform such person of the date of cancellation of the registration by registered post. |
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| (5)With effect from the date of cancellation of the registration, any goods or services then forming part of the assets of a taxable activity carried on or carried out by that person shall be deemed to be supplied by that person in the course of carrying on or carrying out a taxable activity at a time immediately prior to the date of cancellation., unless the taxable activity (inclusive of all such assets) is carried on or carried out by another person who is a registered person. |
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Sri Lanka Consolidated Acts