Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: VAT RATES :: Central Excise rule to resale the machines to a new company :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: VAT Audit :: articles on VAT and GST in India :: TDS :: cpt :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
Service Tax »
 India to levy service tax on freight for imports on delivered basis
 Income tax relief must be blended with additional tax measures
 9th GST Council inks breakthrough on dual control over tax payers, rollout deferred to July 1, 2017
 GST rollout uncertainty hits Budget 2017 calculations
 GST now set for July 1 roll-out, dual control hurdle finally over
 Grant of Registration under DVAT and CST
 Do not raise service tax, says Chamber
 Excise, service taxpayers to migrate to GST portal by Jan 31
 Centre, state governments work on formula for 'GST on high seas'
 What is service tax?
 Tax to bring transparency, benefit companies operating in state, says Gujarat CM Vijay Rupani

Karnataka's non-tax revenues constitute less than one per cent of GSDP
February, 19th 2013

Even as the State has one of the highest own tax revenues to Gross State Domestic Product (GSDP) ratio, the ratio of non-tax revenue to total receipts has not been increasing over the years. It will reach 0.73 per cent of GSDP in 2012-13.

Non- tax revenue includes receipts from social, economic and general services and interests and dividends. Non-tax revenue as a per cent of GSDP will decline to 0.73 per cent in 2012-13 from 2.69 per cent in 2004-05. “Non-tax revenue has shown a decline and warrants attention,” the government said.

The State’s GDP was expected to grow at 5.9 per cent to reach Rs. 3,03,444 crore in 2012-13 (GSDP at constant prices 2004-05).

According to the Medium Term Fiscal Plan 2013-2017, which outlined the government’s fiscal strategy, the State revenue receipts are expected to reach Rs. 84,884 crore and of which the State own tax revenues (STOR) would constitute Rs. 53,492 crore and non-tax revenue Rs. 3,796 crore in 2012-13.

The State has one of the lowest non-tax revenues to the GSDP ratios in the country. In many departments, the revision of user charges, fees, and fines and other such non-tax receipts have not taken place for many years. Even with revision of rates and better collection mechanisms, the increase would not be large due to existing low base, the State’s economic survey said.

STOR constituted 65 per cent of total revenue receipts as per the revised budget estimate (Rs. 53,492 crore) for 2012-13 which was more than 15 per cent of the budget actuals of Rs. 46,476 crore in 2011-12. Non-tax revenue stood at Rs. 3,334 crore in 2009-10, Rs. 3,358 crore in 2010-11 and Rs. 4,087 crore in 2011-12. The major single sources of non-tax revenues are from mining and forest development tax. The government expected non-tax revenue of Rs. 178 crore from forest, Rs. 574 crore from interest and dividends, Rs. 1,500 crore from mines and geology and Rs. 1,544 crore from other sources such as user charges in hospitals and drinking water.

Major reasons for the decline in non-tax revenue is the lack of monitoring by departments and the non-revision of user charges in government-run hospitals, irrigation, drinking water, educational institutions, public transport and electricity supply. The Fiscal Management Review Committee headed by the Chief Secretary, which would review fiscal and debt position of the State, has recommended remedial measures such as regular revision of user charges to the check slide in the growth of non-tax revenues.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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