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: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: VAT Audit :: empanelment :: articles on VAT and GST in India :: due date for vat payment :: ACCOUNTING STANDARDS :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: list of goods taxed at 4%
VAT (Value Added Tax) »
 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
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading

Commercial tax revenue growth in UP slowed under VAT regime
August, 17th 2011

The average growth rate in commercial tax revenue in Uttar Pradesh slowed down under the Value Added Tax (VAT) regime.
The average growth in commercial tax revenue in three years preceding VAT and three years under the regime posted average growth rate of 20.10 per cent and 16.21 per cent respectively reflecting a difference of 3.89 per cent skewed against VAT years.

During 2004-05, 2005-06 and 2006-07 the three years preceding VAT the commercial tax collection stood at Rs 8,838 crore, Rs 11,285 crore and Rs 13,279 crore respectively. This way, the growth rate in individual years was 15.67 per cent, 26.96 per cent and 17.67 per cent respectively.

Although, tax collection under VAT years grew in absolute terms, the average growth rate has been lower.

During 2007-08, 2008-09 and 2009-10, the commercial tax revenue returned figures of Rs 15,023 crore, Rs 17,482 crore and Rs 20,825 crore growing by 13.14 per cent, 16.37 per cent and 19.12 per cent respectively.

Actual collections under VAT were also lower compared to respective budgetary projections for 2007-08 and 2008-09, while during 2009-10, it was higher by about Rs 85 crore.

In its latest report about revenue receipts in UP, which was tabled in the state Assembly recently, Comptroller and Auditor General (CAG) of India pointed out that the revenue growth remained below 20 per cent under VAT, while it had breached 25 per cent during 2005-06.

On a query of October 2010, the state informed the CAG about having exempted 200 items of common use from VAT. Besides, several other items were put under 4 per cent tax slab, which earlier attracted tax of 6-8 per cent.

Additionally, the downward revision in central sales tax (CST) from 4 to 3 per cent and later to 2 per cent after implementation of VAT reflected in the net revenue receipts.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

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