New GST Bill to be drafted (23.03.2021)

The new GST was proposed in Budget 2021 to make tax collection more efficient. Under the provisions of the proposed new Act, it is expected to simplify the Goods and services tax related to alcohol, cigarettes, vehicles, telecommunications, and betting.

The Cabinet paper was presented by Prime Minister Mahinda Rajapaksa in his capacity as Finance Minister seeking approval to instruct the legal draftsman to prepare the GST Bill.

Source : www.dgi.gov.lk/news/cabinet-decisions/2894-cabinet-decisions-2021-03-23