Financial Daily from THE HINDU group of publications
Wednesday, May 17, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 17, 2006 |
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Industry & Economy
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Taxation VAT-implementing States' tax revenues up 13.8 pc K.R. Srivats
New Delhi , May 16 Tax revenues of States that implemented VAT (value-added tax) increased by 13.8 per cent during fiscal 2005-06 to touch Rs 76,903 crore against Rs 67,588 crore recorded in the previous fiscal. Although the tax revenue growth of the 25 VAT-implementing States taken together had settled at 15-16 per cent ever since the new tax system was introduced, official sources pointed out that the overall growth for the fiscal 2005-06 was 13.8 per cent due to the slackening of growth in the month of March 2006. "The provisional numbers available for March 2006 indicates that tax revenues have grown by less than 4 per cent in this month. This would, however, be confirmed only when the state Accountants General certified numbers are available after two-three months," sources said. With the five BJP-ruled states adopting VAT from April 1, 2006, 30 states and Union Territories have, so far, adopted State-level VAT.
Major States
Tax revenues of some of the major VAT-implementing States during April-March 2005-06 are: Delhi - Rs 5,686 crore (Rs 4,201 crore); Maharashtra - Rs 18,669 crore (Rs 16,815 crore); Haryana - Rs 4,400 crore (Rs 3,731 crore); Kerala - Rs 6,937 crore (Rs 6,648 crore); Karnataka - Rs 8,079 crore (Rs 7,545 crore); Punjab - Rs 4,281 crore (Rs 3,366 crore); Andhra Pradesh - Rs 12,570 crore (Rs 11,022 crore); and West Bengal - Rs 5,406 (Rs 5,086 crore).
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