Rs 5282.21 crore revenue collected
IMPLEMENTATION OF the value-added tax (VAT) in Madhya Pradesh has witnessed a growth of nearly 21 per cent in commercial tax collection till November over the corresponding period last fiscal.india Updated: Dec 30, 2006 14:11 IST
IMPLEMENTATION OF the value-added tax (VAT) in Madhya Pradesh has witnessed a growth of nearly 21 per cent in commercial tax collection till November over the corresponding period last fiscal.
The State Government has collected total revenue of Rs 5,282.21 crore from various tax sources by November end during the current financial year.
Against the annual target of Rs 5,934.88 crore, commercial tax collected till November end stands at Rs 3,542.68 crore, which is 60 per cent of the target. The tax collected during the corresponding period last fiscal was Rs 2,933.22 crore.
According to official data, out of total revenue collected the government received Rs 3,542.68 crore from commercial taxes, Rs 1,023.28 crore from excise duty, Rs 14.45 crore from entertainment tax and Rs 701.80 crore from stamp and registration duties.
Against the annual central sales tax target of Rs 608.59 crore, the collection has been to the tune of Rs 334.76 crore till November end, which is 55 per cent of the target.
The State has received Rs 415.75 crore as entry tax during the period against the annual target of Rs 676.38 crore, completing 61.47 per cent of the target.
Last year, collection from entry tax was Rs 588.32 crore. The collection by way of professional tax stands at Rs 93.22 crore during the first eight months.
Against an annual target of Rs 1,450 crore, revenue collected against excise duty stands at Rs 1,385.68 crore. The revenue received till November during the current financial year is Rs 14.62 crore more than the collection during the corresponding period last year.
Similarly, the State has received Rs 701.80 crore from registration duty. Entertainment tax collected in the current fiscal is Rs 14.45 crore against the annual target of Rs 13.50 crore.
Taking aggressive steps towards recovery, the CT department conducted some raids at commercial establishments of various districts of the State.
First Published: Dec 30, 2006 14:11 IST