Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsPenalty for incorrect return
| 38.Where in an assessment made on any person, the tax exceeds the tax paid by him as the amount due from him in respect of the taxable supplies specified in his return and the assessment is final and conclusive under section 37, the Commissioner General may unless that person proves to the satisfaction of the commissioner General that there was no fraud or willful neglect involved in the disclosure of the taxable supplies made or input tax claimed by that person in such return in writing ,order that person to pay, on or before a specified date, as penalty for making an incorrect return a sum not exceeding twenty five thousand rupees and a sum equal to twice the amount of the difference between the total tax claimed in the assessment and the tax paid on the return:Provided however, any such person on whom a penalty is imposed under this section shall not be liable to prosecution for an offence relating to that taxable period under section 66. |