This article offers a novel interpretation of Sri Lanka's great ceremonial procession for the Buddha, the Asala Perahara. By conceptualizing the name, ‘Asala’ as a chronotope (Bakhtin 1981), and giving emphasis to its authorisation by Buddhist monks, the interpretation reveals that this ritual commemorates the origins of Buddhism in relation to the island of Sri Lanka, thus constituting it as a unique ‘quality space’ (Fernandez 1986) for its Buddhist inhabitants. The interpretation demonstrates that the distinction between mythic time and everyday time, as espoused by Lévi‐Strauss (1972) is not only arbitrary, but spurious in this context. Furthermore, contra Seneviratne (1978), it shows that far from being an anachronism in contemporary society, the Asala Perahara in fact enacts its cosmic premise and is politically powerful precisely because it defines reality in religious terms.