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: cpt :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: VAT Audit :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: articles on VAT and GST in India :: list of goods taxed at 4% :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
VAT (Value Added Tax) »
 Haryana govt exempts solar devices from VAT net
 Court rules out VAT on Paradise equity transfer
 VAT gone but riddle of derivatives traded on commodity exchanges lives on
 Rule 2(L) Of Cenvat Credit Rules, 2004 Amended
 Haryana govt exempts solar equipment from VAT
 AP to push for same benefits under GST for VAT exempted goods
 Andhra Pradesh to push for same benefits under GST for VAT exempted goods
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 Shops cannot charge VAT on discounted items: Consumer forum

Commercial tax collection up 16% on VAT growth
July, 10th 2012

Commercial tax collection in the state has grown 15.69 per cent in the April-June period of 2012-13 at Rs 2,047.61 crore as against Rs 1,769.92 crore received in the comparable period of previous fiscal.

Collection grew mainly on the back of value added tax (VAT) that rose 18.52 per cent in the stated period. VAT, the single biggest contributor to the commercial tax kitty, shot up from Rs 1,344.11 crore to Rs 1,592.98 crore.

VAT collection grew as the state government had enhanced floor rate from four per cent to five per cent with effect from April 1 this year. The hike in base VAT rate was expected to generate incremental revenue of Rs 400 crore annually for the state government.
In June alone, VAT collection stood at Rs 718.91 crore, registering spike of 20.29 per cent over Rs 597.66 crore posted in the same month of 2011.

Central sales tax (CST) and entry tax, however, clocked modest single digit growth of 6.45 per cent and 6.04 per cent respectively in the April-June quarter. While Central sales tax rose from Rs 144.41 crore to Rs 153.73 crore, entry tax increased moderately from Rs 256.64 crore to Rs 272.15 crore.

The decelerating trend seen in CST and entry tax collection is due to slowing industrial activity. Though a lot many industrial projects are on the pipeline, they have not progressed at the desired pace to boost tax collections, said a senior finance department official.

Professional tax collection clocked 10.66 per cent growth in the stated period to reach Rs 26.68 crore compared to Rs 24.11 crore logged in the corresponding period of last fiscal.

Commercial tax collection target has been set at Rs 12,583.25 crore for 2012-13.

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

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