Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsTransitional provisions
| 76.Where the Commissioner-general is satisfied that a registered person or any other person, as the case may be, on or after August 1, 2002. has paid tax on the acquisition of goods for the purpose of making an exempt supply the tax so paid by such person shall be deemed to be input tax where such supply has subsequently become a taxable supply and the goods so acquired are being used in making such taxable supply:Provided however the Commissioner-General shall determine the allowable portion of such input tax where the goods so acquired are being used only partly for the purpose of making a taxable supply. |