sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 All you need to know about gift tax this wedding season
 3rd instalment of advance tax due on 15 December
 Tax on your gold and real estate investments
 Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2018
 Have you filed your income tax? Remember these deadline nears; know from TDS, TCS to challan, forms
 Notification No. 96/2018 -Central Board Of Indirect Taxes And Customs
 Here’s how you can check your ITR refund status online
 Your tax form will be filled by the taxman Income tax return (ITR) filing
  Section 24 and Section 56 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR)
  Companies (cost records and audit) Amendment Rules, 2018
 Income tax, TDS rules explained in 10 points EPF withdrawal

Maharashtra tax revenue falls 20 pc in Dec
January, 30th 2007

This has dented VAT States' overall growth rate 
 
A decline of nearly 20 per cent in Maharashtra's tax revenues in December 2006 has marginally pulled down the overall tax revenue growth rate of VAT-implementing States in the first nine months of the current fiscal.

Official data shows that tax revenues of the major VAT-implementing States grew by 24.42 per cent during the period to Rs 83,425 crore from Rs 67,050 crore in the corresponding previous period.

Revenues of the 30 VAT-implementing States (excluding Tamil Nadu, which moved to the regime from January 1, 2007) had so far recorded growth rates of 25-27 per cent.

Official sources attributed the drop in overall growth rates to fall in Maharashtra's revenues in December. (The State accounts for about 20 per cent of total tax revenues of States.)

However, the Finance Ministry expects revenues of the States to grow by at least 20 per cent this fiscal.

In December, Maharashtra's revenues fell to Rs 1,458 crore (Rs 1,805 crore). For the April-December period, revenues rose by 23.48 per cent to Rs 16,525 crore (Rs 13,383 crore).

Terming the decline in December as a blip, Maharashtra's VAT Department is understood to have assured the Finance Ministry that the situation would be corrected in the coming months.

Among the reasons cited by the State is the decision to allow certain dealers to avail themselves of opening stock credit that had not been utilised in the previous year.

Tax revenues of some of the major States in April-December 2006 were: Delhi Rs 4,804 crore (Rs 4,102 crore); Maharashtra Rs 16,525 crore (Rs 13,383 crore); Haryana Rs 3,957 crore (Rs 3,263 crore); Kerala Rs 5,957 crore (Rs 4,727 crore); Karnataka Rs 7,368 crore (Rs 5,856 crore); Punjab Rs 3,692 crore (Rs 3,334 crore); Andhra Pradesh Rs 10,970 crore (Rs 8,555 crore); West Bengal Rs 4,184 crore (Rs 3,561 crore); Gujarat Rs 8,446 crore (Rs 6,219 crore); Madhya Pradesh Rs 3,117 crore (Rs 2,548 crore) and Rajasthan Rs 4,407 crore (Rs 3,599 crore).

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Careers

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions