Value-Added Tax Act, 1972

Charge of value-added tax.

2.—(1) With effect on and from the specified day a tax, to be called value-added tax, shall, subject to this Act and regulations, be charged, levied and paid—

(a) on the delivery of goods and the rendering of services delivered or rendered by an accountable person in the course of business, and

(b) on goods imported into the State.

(2) In the case of a person authorised in accordance with section 14 to treat the moneys which he has received for the rendering of taxable services or for the delivery of taxable goods and the rendering of taxable services (if any) as the consideration in respect of any such rendering or delivery, subsection (1) shall apply, in relation to any rendering of services or any delivery of goods and rendering of services in respect of which he is so authorised, as if references in that subsection to the delivery of goods or the rendering of services were references to the receipt of moneys in respect of such delivery or rendering, whether the delivery or rendering was or is made or effected before, on or after the said specified day.