The Hindu Business Line : Tax revenue may fall

THE Special Commissioner and Commissioner for Commercial Taxes, Mr J. Arun Ramananthan, has said that there would be "poor growth in the commercial tax revenue" during the current fiscal due to industrial recession and negative growth in some sectors.

In an informal chat with presspersons, after inaugurating a seminar on value-added tax, Mr Ramanathan said the steep hike in petroleum products helped in mopping up tax revenues during the earlier fiscal, but that did not happen during the current year.

While refusing to quantify the revenue loss, he said the National Institute of Public Finance and Policy had suggested ways for calculating the revenue loss with the introduction of VAT, besides outlining how the `input re-bate' would affect the system.

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