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5 posters
Vat exempted products and services
sashimaal- Top contributor
- Posts : 5785
Join date : 2014-02-28
spw19721- Active Member
- Posts : 683
Join date : 2015-08-22
Thanks shashi
spw19721- Active Member
- Posts : 683
Join date : 2015-08-22
No tax for " පරිගණක මදුකාංග ".... 
which is absolutely free ( for us )
which is absolutely free ( for us )
කිත්සිරි ද සිල්වා- Top contributor
- Posts : 9679
Join date : 2014-02-23
Age : 66
Location : රජ්ගම
Someone thought "Software" is a kind of ladies lingerie.
spw19721 wrote:No tax for " පරිගණක මදුකාංග "....
yaka- Posts : 374
Join date : 2014-02-28
https://web.facebook.com/anurakumara/videos/668093873345063/?hc_ref=NEWSFEED
Future123- Active Member
- Posts : 1435
Join date : 2014-04-09
The new VAT act is implemented from 01 November 2016 which I think is a very short notice for businesses.
Eg: As per the new VAT act, chicken is also taxable. Now 1Kg of chicken is Rs. 420. Who will bear this tax? Supplier, trader or consumer?
I think there was no VAT and NBT on chicken meat before. There is a control price of 420/=.
In this case BFL or GRAN will have to bear nearly 60/= tax.
We can possibly see the affect in quarterly reports of GRAN and BFL financials ending 31 March 2017 as they will have to bear 17% of the selling price as VAT and NBT.
Please correct me if I'm wrong.
Eg: As per the new VAT act, chicken is also taxable. Now 1Kg of chicken is Rs. 420. Who will bear this tax? Supplier, trader or consumer?
I think there was no VAT and NBT on chicken meat before. There is a control price of 420/=.
In this case BFL or GRAN will have to bear nearly 60/= tax.
We can possibly see the affect in quarterly reports of GRAN and BFL financials ending 31 March 2017 as they will have to bear 17% of the selling price as VAT and NBT.
Please correct me if I'm wrong.
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