Manipur Value Added Tax (1st Amendment) Act, 2012

This Act amends the Manipur Value Added Tax Act, 2004 to update tax thresholds and introduce a new Tax Deducted at Source mechanism. It raises the monetary limits for specific deductions and mandates that certain entities deduct tax at source when paying contractors for works contracts involving the transfer of goods. The legislation applies to all persons responsible for making such payments, excluding individuals, families, and government-controlled companies. By formalizing TDS rules, the Act aims to ensure better tax compliance and prevent revenue leakage in the construction and service sectors within the state.

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