Dt: 15thJuly,2013: New Composition Scheme of tax Payment launched under MVAT Act 2005

       The Government of Mizoram has enacted and launched a new Composition Scheme of Tax payment for works contractors under the MVAT Act 2005 on 24th May 2013. Under the new scheme, works contractors can opt for payment of Tax, by way of composition, at the rate of 2% of the total aggregate value of works contracts received or receivable by him.

       The option, however, once exercised is final and cannot be revoked by the dealer during the year.

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