Cabinet approves VAT regulation for Daman

New Delhi, Oct 25 (UNI) The Union Cabinet today approved the promulgation of the Daman and Diu Value Added Tax (Amendment) Regulation, 2007, which would speed up the refund of the net negative tax to the assessee and also simplify the procedure.

A similar amendment regulation was approved by the Cabinet with regard to Dadra and Nagar Haveli, Information and Broadcasting Minister P R Dasmunsi told reporters.

Both the regulations were promulgated under Art. 240 of the Constitution, Mr Dasmunsi said.

''The Amendment Regulation will enable the refund of the net negative tax to the assessee faster and also simplify the procedure,'' he pointed out.

UNI