Education

TN tax revenue jumps 27%

| Updated on: May 03, 2012

Tamil Nadu's tax revenue jumped by 27 per cent to Rs 39,545 crore in 2011-12, according to the policy note on Commercial Taxes tabled in the Assembly today.

In the previous year, the total revenue was Rs 31,117 crore.

The State Government attributed the growth to the hike in the sales tax rates implemented in July 2011, when the minimum rate of Value-Added Tax was hiked to 5 per cent from 4 per cent previously and the maximum rates were hiked by 2 percentage points to 14.5 per cent.

VAT contributes the largest share of State's own income at Rs 33,997 crore, accounting for about 86 per cent. In the previous year, VAT income was Rs 26,558 crore.

The other major sources of income include Central Sales Tax Rs 2,819 crore (Rs 2,263 crore); entry tax on vehicles Rs 2,148 crore (Rs 1,708 crore); general sales tax Rs 259 crore (Rs 350 crore); luxury tax Rs 256 crore (Rs 216 crore); entertainment tax Rs 59 crore (Rs 16 crore); and betting tax Rs 7 crore (Rs 6 crore).

Published on November 15, 2017

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

COMMENTS
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you