The correct answer is: b) 2008
The Mizoram Value Added Tax (MVAT) was introduced in the state in 2008. It is a consumption tax levied on the value added to goods and services at each stage of the production and distribution process. The MVAT is payable by the registered dealer on the value of taxable supplies made by him. The rate of MVAT is 5%.
The MVAT was introduced in Mizoram in order to replace the existing sales tax regime. The MVAT is a more efficient and equitable tax system than the sales tax. It is also a more transparent tax system, as the tax rates and the taxable base are clearly defined.
The MVAT has been successful in increasing the tax revenue of the state government. It has also helped to reduce the level of tax evasion. The MVAT has also had a positive impact on the state’s economy. It has helped to promote investment and to create jobs.
The MVAT is a complex tax system. However, it is a necessary tax system in order to raise revenue for the state government and to promote economic development.
Option a) is incorrect because the MVAT was not introduced in 2005.
Option c) is incorrect because the MVAT was not introduced in 2010.
Option d) is incorrect because the MVAT was not introduced in 2012.