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 :: ACCOUNTING STANDARD :: empanelment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: form 3cd :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: articles on VAT and GST in India :: VAT RATES :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
VAT (Value Added Tax) »
 15% rise in collectionof VAT for Oct-Nov
 China to simplify tax scheme after switch to VAT
 Cabinet clears key proposals on VAT, regularisation of jobs
 Cases of VAT overcharging flood consumer forum
 State seeks relief from Centre
 Flat rate VAT changes for small businesses explained
 Cenvat Credit Of Additional Duties Of Customs [Cvd] On Imported Coal
 Excise Dept puts VAT refund on fast track
 Consumer fora receive 18 VAT plaints
 Appointment of Assistant VATO - F.3(14)/Fin(Rev-I)2012-13/DSVI/334
 Bio-diesel body seeks VAT relaxation

VAT collection Rs 4932 cr in 2009-10
August, 03rd 2010

The Orissa government has collected Rs 4932.01 crore by way of Value Added Tax (VAT) on different products in 2009-10. This is a growth of 15.77 per cent over the VAT collection of Rs 4259.86 crore which the state had achieved in 2008-09.

"The state's VAT collection in 2009-10 stood at Rs 4259.86 crore in 2009-10. VAT is imposed on a wide variety of products at the rate of 4 to12.5 per cent. While the VAT rate on petrol and diesel is 18 per cent, the same is 20 per cent on foreign liquor", said state finance and excise minister Prafulla Chandra Ghadai.

The VAT collection in Orissa was Rs 2541.77 crore, Rs 3090.07 crore and Rs 3569.89 crore in 2005-06, 2006-07 and 2007-08 respectively.

On mounting debt burden of the state, he said, "The state government has taken many steps to ease the debt burden. We have not resorted to open market borrowings since 2006-07 and this has helped in bringing down the state's debt-GSDP (Gross State Domestic Product) ratio. Moreover, the fiscal deficit has been kept under control at three per cent of the GSDP."

The state's debt stock has been estimated at Rs 43523.11 crore by the end of 2010-11 which includes the net addition of Rs 4160.97 crore during this fiscal. It may be noted that the state's debt-GSDP ratio has come down to a sustainable level of 27.27 per cent by the end of 2008-09 from a high of 55.92 per cent in 2002-03.

The 12th Finance Commission had recommended a prudential level of debt to GSDP ratio at 28 per cent.The state's borrowings from different sources in 2009-10 stood at 4220.66 crore which is a jump of 28.7 per cent over Rs 3279.25 crore in 2007-08. It may be noted that the state's revenue receipts have grown from Rs 1894.92 crore in 1995-96 to Rs 4220.66 crore in 2009-10. The state paid an interest of Rs 3044.17 crore in 2009-10.

Ghadai said, the 11th Finance Commission and the 13th Finance Commission have made certain recommendations on accounts and audit strengthening of the audit system through Local Fund Audit Organizations.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

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