Is scrap sales liable for NBT?

asked Mar 16 in NBT by shanu
Is scrap sales liable for NBT?

1 Answer

0 votes
answered Mar 22 by Visio (4,210 points)
Yes they are unless it is an exempted item
commented Jul 10 by H.Peries
No. Scrap sales are not liable for NBT. If you go through the liable TO under the NBT act,Liable TO purely includes the sales from your busines. Hence Scrap sale is not your business, it is not chargeable under NBT act.

http://www.ird.gov.lk/en/Type%20of%20Taxes/SitePages/Nation%20Building%20Tax(NBT).aspx?menuid=1206
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