VAT Guide to Value Added Tax - sri lanka inland revenue ...

(d)
(e)
(f)
input credit has been claimed and motor vehicles etc.) to another registered
person who undertakes to continue the taxable activity. The idea is to ensure
that the other registered person shall account for output tax in respect of all such
goods and assets. .
Cancellation of registration will be done only if the CGIR is satisfied that the
applicant has ceased to carry on the taxable activity or that the value of his
taxable supplies does not exceed the threshold. The C.G.I.R will also cancel
the registration at his own instance if he is satisfied in addition to above that the
D.G.C has suspended the Customs facilities to such person or that the
continuation of such registration will impede the protection of revenue.
The certificate of registration must be returned to the C.G.I.R within 14 days from
the last day of the taxable period during which the registration was valid.
* Any change – in the name, address and place of the business, in the
nature of the business (i.e taxable activity), in the person authorized to sign
returns, in ownership of the business etc., should be notified within 14 days.
(Section 19). Customs will not clear goods if the name and address as
appearing in the certificate of registration or INN certificate defers from that in
the Customs Declaration or import documents, without verifying from Inland
Revenue.
* Death, insolvency or incapacity -
when an individual, proprietor or a partner of a business dies, becomes
bankrupt or incapacitated, the person carrying on the business must notify the
C.G.I.R within 14 days. Similarly when an administrator, receiver or liquidator
etc. takes over the affairs of an incorporated company; C.G.I.R must be
informed of the date from which they became responsible and the
circumstances in which they took over.
4.9 Deemed Registration Sec.80(2)
Any person who is registered for G.S.T. under the G.S.T Act No. 34 of 1996 and whose
registration is in force on 31.07.2002 will be deemed to be registered under the VAT Act.
4.10 How to Register
Any person who seeks registration for VAT should complete and return the following
applications which can be obtained from the VAT Branch of the Inland Revenue
Department Head Office in Colombo.
• Application for Tax payer Identification Number (TIN)
• Application for VAT Registration (Form VAT 11)
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