Industry & Economy
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Taxation
VAT implementing States' tax revenues up 15.8% in April-Dec
K.R. Srivats
New Delhi
,
Jan. 29
TAX revenues of value-added tax (VAT)-implementing States and Union Territories increased by 15.8 per cent to Rs 53,780 crore during April-December 2005 compared with Rs 46,455 crore in the same period during the previous year.
In the first half of the current fiscal, tax revenues of VAT implementing States and Union Territories had registered a growth of about 14.4 per cent, official sources said. So far, 24 States and Union Territories have implemented State-level VAT.
For the period under review, the tax revenues of some of the major States are — Andhra Pradesh at Rs 8,555 crore (Rs 7,552 crore); Delhi at Rs 4,103 crore (Rs 3,042 crore); Haryana at Rs 3,264 crore (Rs 2,781 crore); Karnataka at Rs 5,827 (Rs 5,370 crore); Kerala at Rs 4,682 crore (Rs 4,404 crore); Maharashtra at Rs 13,550 crore (Rs 11,919 crore); Punjab at Rs 3,335 crore (Rs 2,469 crore); and West Bengal at Rs 3,623 crore (Rs 3,260 crore).
Meanwhile, the State Finance Ministers are to meet here on January 30 under the aegis of the Empowered Committee of State Finance Ministers on VAT to review the VAT implementation and discuss related issues such as compensation for central sales tax (CST) phase-out.
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