Shillong, July 20 :The cabinet has reduced the time to pay Value Added Tax (VAT) to the government.
Chief Minister Conrad Sangma told reporters on Thursday that to streamline the efficiency of collection of VAT for Excise, Petrol and Diesel in Meghalaya, the cabinet decided to change the time frame within which the concerned business houses should pay the VAT collected to the government.
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“For example, in petrol pumps we had a period of 3 months for collection of VAT reconciliation which will now be reduced to one month”, the chief minister said.
