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VAT exemptions cost Mizoram government Rs 4.45 crore

Press Trust of India  |  Aizawl 

Six companies were exempted from paying Value Added (VAT) due to which the lost over Rs 4.45 crore during 2012-2017, state Taxation Minister Lalsawta today told the Assembly today.

Replying to questions from Dr K Beichhua and Lalruatkima of the Mizo National Front (MNF), Lalsawta said 15 firms had applied for VAT exemption, of which six firms were granted the benefits.

He said four per cent VAT exemption to the tune of Rs 2.93 crore was allowed for Rural Electricity Distribution Backbone (REDB) Project under the state Power and Electricity department during 2016-2017.

Aizawl-based North East Consultancy Services (NECS) was also exempted VAT to the tune of Rs 1.26 crore, he said.

Other firms who were exempted from paying VAT were Champhai Grape Growers Society, Hnahlan Grape Growers Society, contractors executing the Greater Khawzawl Water Supply Scheme and contractor of the Pilot Project Schemes under the Rajiv Awas

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 15 2017. 15:14 IST