BIZ

CESS tax on multiple items amended

Published

4 months ago

November 16, 2022

editor

The rate of CESS levy imposed on a total of 637 items under 187 HS codes has been amended with effect from yesterday (Nov. 15)

In his capacity as the Minister of Investment Promotion, President Ranil Wickremesinghe has issued the relevant government notification on November 14, by virtue of the powers vested in him by Section 14 of Export Development Act No. 40 of 1979.

Thereby, the prices of imported items such as butter, dairy spreads, cheese, curd, onions, garlic, several vegetables and fruits, soap, wet wipes, cement, notebooks, exercise books, air conditioning machines, household or laundry washing machines, and ballpoint pens will be increased.

The Ministry of Finance, however, noted that the CESS rate revision will affect the prices of any imported essential items.

Related Topics:Featured lka SriLanka Tax

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BIZ

Indian eggs to reach SL tomorrow

Published

2 days ago

March 18, 2023

editor

The first consignment of eggs imported from India will reach Sri Lanka tomorrow (March 19), the State Trading (General) Corporation says.

The shipment will carry two million eggs in total, according to a spokesperson of the corporation.

The Sri Lankan government decided to import eggs in a bid to control the soaring prices.

However, imported eggs will not be sold for general consumption but are to be used only for bakery manufacturing.

Meanwhile, it is recommended that gloves are used when handling imported eggs in the bakery industry and eggshells are safely discarded, ensuring that the remaining eggshells are not released to the environment under any circumstances.

BIZ

People’s Bank issues clarification

Published

3 days ago

March 17, 2023

editor

In a statement, People’s Bank has clarified that they have not received any direct or indirect requests or instructions from any state institution to close their accouts with the bank.

Previously, the state owned ‘Dinamina’ newspaper had reported that heads of government institutions have informed the Ministry of Finance that they will immediately move their existing accounts at the People’s Bank to other banks.

The media release issued by People’s Bank today (17), is as follows :

BIZ

Prima Noodles sued for misleading consumers!

Published

3 days ago

March 17, 2023

editor

The Consumer Affairs Authority (CAA) has filed a case against Ceylon Agro Industries Limited, which manufactures and distributes Prima Noodles, and Keells supermarket chain owned by John Keells Marketing Services (Pvt) Limited.

The case has been filed for continuing to display an advertisement for a raffle draw even after it has been ended.

The CAA filed the case against Prima and Keells under the case number B77686/05/2023 and has pointed out that these companies have deceived and misled the consumer.

Accordingly, the two companies were accused of misleading and deceiving the consumers by selling Prima Noodles with a sticker printed on it about a raffle draw even after it ended.