VAT exempted for industrial units in Mizoram

Aizawl, Nov 29 (UNI) In a bid to encourage entreprenures in the region, the state government has decided to exempt Value Added Tax (VAT) for local industrial units here.

The VAT is exempted for any processing and manufacturing industrial unit holding a permanent registration granted by the state industries department eligible under the new rule, the taxation officials said here today.

The state goverment has already issued an notification to exempt VAT for the local industrial units.

The exemption period would be seven years and would commence from the date of actual commercial production by the listed units.

However, in case of the industrial unit set up in thrust areas such as electronics and information technology, bamboo and timber-based products, food and fruit processing, textile, handloom and handicrafts, plantation fibre and hill brooms, tung oil and non-edible oil extraction, tea, rubber and coffee, mines minerals and tourism, it would extend to ten years commencing from the date of commercial production.

A district level committee would be formed, chaired by the deputy commisioner of the district and the assistant commissioner of taxes.

Representative of the state-owned Zoram Industrial would be the members of the committee, where they would issue the grant of eligibility certificate for the benefit of exemption from payment of tax to the industrial units, the officials added.

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