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Tamil Nadu’s income from commercial taxes has grown 20 per cent in the first quarter of 2011-12 compared with that of the corresponding quarter last year.
The State Government collected Rs 8,720.53 crore as value-added tax (VAT) between April and June this fiscal, which represents a 20.04 per cent growth, said an official press release following a review of the operations of the Commercial Taxes Department by the Minister for Commercial Taxes, Mr ‘Agri’ S.S. Krishnamurthi.
As of May, 2.24 lakh traders and businesses are registered under the VAT Act 2006 and are filing monthly returns electronically.
VAT income accounts for 70 per cent of the State’s income and supports the welfare and development measures of the Government. The Minister has suggested that the Department expedites tax collections to grow revenue through better operational efficiency and strengthening relationship with the tax payers, the release said.
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