VAT dept earns Rs 2K cr more from Surat in 4 years
May, 08th 2012
The value added tax (VAT) receipts from the city have increased by Rs 2,000 crore in just four years' time. At least 75 per cent of these payments have come through e-payments.
"This is an indicator to the development and higher purchasing power of local citizens," said Dr Kiran Pandya, HoD, Research Methodology, VNSGU. "The population has also increased to touch the 45 lakh mark but higher income has led people to spend more. This reflects in VAT figures." tnn
A district collectorate official said, "Four years ago, every one opposed the e-payment mode but it looks more than75 per cent of people have adopted it. This is the most convenient mode of payment and hassle free."
For the current financial year, the VAT department's target has been set at Rs 5925 crore. Last year, the target was initially set for Rs 4,500 crore, but revised it to Rs 5,970 crore.