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Tax Collection On Rise

While the State Government has targeted to collect Rs.47,350 Crore of Tax and Non Tax Revenue during Fiscal 2019-20, by 31 July, 2019 it has been able to collect Rs.14,463.64 Crore.


Latest Report on Tax Collection reveals that State Government has achieved over 10.84 Percent growth over July-2018 in collection of both Tax and Non Tax Revenue.

Department of Finance is monitoring the Revenue Collection and it came to fore that Own Tax Revenue Collection has been achieved at Rs.10,046.33 Crore, while Non Tax Revenue Collection was Rs.4417.31 Crore by July End.

Commercial Tax Collection up to 31 July was Rs.6491.30 Crore out of which State GST was Rs.3072.37 Crore, said sources.

In absence of a Full Time Transport Commissioner, Taxes on Vehicles has gone down by Minus 10 Percent. By 31 July Taxes collected on Vehicles was Rs.515.15 Crore.

And absence of a Full Time Transport Commissioner has cost the State heavily with Fatality on Road has gone up by 13 Percent, which was supposed to go by Minus 10 Percent as per directive of Supreme Court of India.

Tax Collection on Liquor has gone up by over 20 Percent with a collection of Rs.1377.76 Crore by July End. This year Rs.4600 Crore of Excise Revenue will be collected as per target set by Chief Secretary.

Stamp and Registration collection has registered a whopping over 57 Percent growths with Rs.559.89 Crore collected during this period.
 
Professional Tax Collection continues to register ‘Negative Growth’ and the target of collecting Rs.210 Crore seems difficult, officials feel.

Own Tax Revenue collection has registered 6.33 Percent of growth over corresponding period of 2018.

Non Tax Revenue Collection by July End was Rs.4417.31 Crore, which registered 22.70 Percent growth.

Only Metal Sector Revenue was Rs.3796.94 Crore, which registered 24.14 Percent growth.

Metallurgical Industries Sector continues to be helpful for the State Government in collecting more Non Tax Revenue for last few years as Metal Sector is a bit favorable.

Other Non Tax Revenue Sector like Interest Collection, Dividend Raising, Education Cess, Medical User Fee and other have added to the State Exchequer.

While the State Government is eyeing for a Total Revenue Receipt of Rs.1,15,266 Crore from all sources like Tax, Non Tax Share Tax and Grants from Government of India.

State Government is expecting Rs.39,206.59 Crore of Share Tax and Rs.30,559.41 Crore of Grant from Centre during 2019-20.

And by 31 July, State has been able to receive Rs.30,608.21 Crore on Revenue Receipt Front..

Total Revenue Receipt has registered a poor growth of 1.80 Percent over July-2018.

So in real terms Total Revenue Receipt Growth is not satisfactory, however Tax and Non Tax Collection inside the State is going well, feel Tax Consultants.


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