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Karnataka has seen efficiency in tax collection despite drought-like situation prevailing in many taluks. The collection from State’s own revenue receipts has shown a healthy increase in the first half of 2018.
As per the ‘Mid-Year Review of State Finances 2018-19’, tabled in the Karnataka Legislative Assembly, in the first six months ending September 2018 is ₹76,025 crore, including the State’s own tax revenue (SOTR) of ₹51,247 crore and GST compensation and State’s own non-tax revenue (SONTR) of ₹2,558 crore.
Revenue receipts
The total own revenue receipts (ORR) during the first half (H1) of fiscal 2018-19 is 47 per cent of that budgeted for the full year, which is on par with the moving average of 47 per cent during H1 of the previous five years. Total receipts (excluding borrowings) for the state during H1 of this year is around 11.8 per cent above that during the corresponding period in 2017-18.
All major SOTR have shown reasonable achievement during the first-six months of 2018-19, in terms of percentage achievement to budget estimate with 48 per cent of the budget estimate of SOTR already achieved in the first six months of 2018-19, which is on par with that of achieved in fiscal 2017-18.
Commercial tax
State has achieved 49 per cent of budget estimate in commercial tax collection during H1 of 2018-19 which is same during corresponding period in the previous year. Budget estimate for 2018-19 is ₹66,920 crore and actual collection stood at ₹32,780 crore.
For the H1, the total SGST collection has been ₹11,233 crore and state has received net settlement of ₹9,533 crore from the IGST-account. In the same period, ₹577 crore has been collected from VAT and other subsumed taxes. Taking into account all these revenues, an amount of ₹21,343 crore has been collected for the H1 of the year 2018-19.
Excise revenue
State’s excise collections have fared well. As against the budget estimate of ₹19,750 crore, collection is H1 is 50 per cent ie ₹9,836 crore with a growth rate of 15 per cent compared with fiscal 2017-18. In H1 of 2018-19, Motor Vehicle Tax grew by 19.6 per cent over that of the same period last year. With 52 per cent collection against the budget estimate of ₹6,656 crore mid-year, it is expected to meet budget estimate.
Stamps and registration
The receipt under the stamps and registration are at 48 per cent to the budget estimate and is growing at 21 per cent over that of the corresponding period in 2017-18.
The non-tax revenue majorly consists of receipts from mining, interest receipts and others. Under own non-tax revenues, the realisation this year as at the end of September 2018 was ₹2,558 crore, which is around 31.27 per cent of the budget estimate of ₹8,181 crore for the year.
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