The Special Goods and Service Tax (GST) which was proposed in the Budget 2021 is proposed to be implemented from 01 January 2022
“As proposed by the 2021 budget, I propose to implement the Special Goods and Services Tax, for which legal provisions are already drafted, with effect from January 2022, to cover all goods and services covered by the act” Finance Minister Basil Rajapaksa said delivering his budget speech.
In the Budget 2021, it was stated that an online managed single special goods and services tax would be proposed on telecommunication, motor vehicles, cigarettes, liquor, betting and gaming in lieu of various taxes and levies imposed under different Acts and administered by different Government Departments.
Follows how SDM chartered accountants had summarised the proposed Special Goods and Service Tax.
