State commercial taxes department made a record collection of VAT
December, 04th 2010
A good monsoon followed by a bumper festive season has given the state government many a reason to rejoice. Thanks to plentiful buying during Diwali and Eid festivals, the state commercial taxes department made a record collection of VAT ( value added tax) in November.
Touching an increased rate of almost 40%, which is higher than in most of the states, the department collected Rs 345 crore more in VAT last month as compared to what was collected in November 2009.
"The total VAT collection for November this year is Rs 1,209 crore, which is the highest monthly collection for this financial year," commercial taxes' commissioner Niranjan Arya said on Friday.
The department had crossed the figure of Rs 1,000 crore in VAT collections in June and July this year. In the later months the collection hovered between Rs 900 and Rs 1,000 crore.
"But last month we created a new record by crossing the Rs 1,200 crore mark," said Arya. "The achievement is owing to good buying during the festivals and high spirit of our officials," the commissioner explained.
In November 2009, the department had collected Rs 864.08 crore as VAT.