JOIN USDelhi set to achieve tax collection target: Dikshit
Despite the slowdown in the economy, the three quarters of this financial year have witnessed better tax collection in Delhi compared to the corresponding period last year.
According to the finance department, there has been a growth of 23 per cent during the first nine months (April-December) of this fiscal compared with corresponding months in the previous year Chief Minister Sheila Dikshit is hopeful that Delhi will achieve its tax collection target of Rs 20,246 crore as mentioned in the current year’s budget.
“About 72 per cent of the tax collection target has been achieved up to December 2011 and we are all set to achieve our tax collection target of Rs 20,246 crore,” said Dikshit. She added that there had been the highest, 61 per cent growth recorded in taxes on motor vehicle, 42 per cent in stamps and registration fee, 26 per cent in state excise and 18 per cent in value-added tax collection.
The total tax receipts during April-December, 2011-12, have been Rs 14,511 crore compared with Rs 11,822 crore collected during the same period in the previous year.
The target of tax collection on motor vehicle was Rs 800 crore, and an amount of Rs 795 crore - 99 per cent of the target - has been collected, indicating 61 per cent growth.
The target for stamps and registration fee in the current year was set at Rs 2,300 crore, and Rs 1,619 crore have been realised in the first nine months, showing 42 per cent growth over the corresponding period in the previous year. Further, the target for state excise in the current year was Rs 2,300 crore, and an amount of Rs 1,748 crore, or 76 per cent of the target, has been collected, marking 26 per cent growth.
Dikshit said that VAT, which accounts for 72 per cent of tax revenue, recorded a growth of 18 per cent during April-December period. The target of VAT was kept at Rs 14,500 crore in the current year. Against this an amount of Rs 10,084 crore, about 70 per cent of the target, has been collected during the first nine months itself. The current year’s target of luxury tax was Rs 280 crore, and an amount of Rs 197 crore has been collected till December.
Key figures
* 72 per cent of the tax collection target has been achieved up to December
* The highest 61 per cent growth registered in taxes on motor vehicle, 42 per cent in stamps and registration fee, 26 per cent in state excise and 18 per cent in VAT