VAT increases tax collection in Meghalaya
Shillong, May 12 (UNI) There has been a substantial increase in tax revenues in Meghalay following the implementation of the Value Added Tax (VAT) in the state last year.
''Introduction of VAT has been beneficial for the state. There has been a substantial increase in tax revenues in the past one year following its implementation,'' Mr B K Dev Varma, Principle Finance Secretary, said here today.
He was addressing the inaugural session of a workshop on ''Computerisation of VAT'' at the National Informatics Centre (NIC) here.
The workshop aims at providing an opportunity to the officials of the taxation department to learn different aspects of computerisation for better implementation of the VAT system in the state.
''Following the implementation of VAT, the tax revenues has increased to Rs.170 crores this year from Rs.127 crores last year.
VAT has contributed in no small measures in augmenting our revenues,'' said Mr J Lyngdoh, Commissioner of Taxes.
Stressing on the need of efficiency in matters relating to tax collection, Mr. Varama pointed out that computerisation in the functions of the taxation department would help the state bridging the gap between its annual income and expenditure.
''Computerisation will help monitor the whole range of activities relating to implementation of VAT. It will hopefully help plug the holes that would have remained in the syatem otherwise,'' he said.
The NIC, Shillong has developed four separate software modules for implementation of VAT in the state.
''The modules developed by the NIC would help minimise direct contact between the officials of the taxation department and the dealers or traders. This will result in efficiency and transparency,'' said Mr Lyngdoh.
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