Madhya Pradesh has posted a close to four fold increase in commercial taxes revenue over last seven years. This creditable achievement, despite exempting many commodities and reducing rates on some others, is attributable to efficient tax administration, effective curb on evasion and positive attitude of traders. The commercial tax revenue in year 2003-04 was Rs. 3,952.25 crore, which rose to Rs. 12,342.16 crore in 2010-11. This increase assumes greater significance given the fact that VAT on many items has been removed and reduced on some others. These taxes include Central Sales Tax, VAT Entertainment Tax, Hotel Tax, Professional Tax etc. The buoyancy in tax collection has pushed the development of the state. In the year 2003-04, revenue of Rs. 2,916.73 crore was received by way of VAT, Rs. 454 crore through Central Sales Tax, Rs. 392.71 crore as Entertainment Tax, Rs. 184.58 crore and Rs. 4.21 crore as Hotel Tax.
Source : http://www.ummid.com/news/2011/September/09.09.2011/commercial_taxes_in_mp.htm
No comments:
Post a Comment