Haryana tax collections up 13%

Amid the gloomy outlook due to the slowdown in the industry and low offtake of bank credit, Haryana has clocked 13% growth in revenue collection from April to November 2012, compared to the corresponding period of last year. According to Minister of Excise and Taxation Kiran Choudhry, as against a target of Rs 19,940 crore for financial year 2012-13 under various Acts (VAT, CST, Passenger Goods and Excise Act), the department collected Rs 13,186.94 crore (April to November 2012), a rise of 12.85 per cent compared to same period of the previous year.

This was despite a slowdown in the auto and construction sectors, she added.

 

The lockout at the Maruti plant at Manesar undermined the revenue collection from the auto giant as well as the ancillaries in the National Capital Region (NCR). Further, the slowdown in the construction sector in NCR, as a result of the ban on the usage of underground water also effected revenue collection in the state.

The department, Choudhry said, was expecting a higher revenue collection, as the things have stabilised in the state’s auto cluster, which is a significant contributor to the state’s revenue.

The minister also informed the collection under VAT during the current financial year, up to November 2012, was 17.08 per cent more, compared to the same period of the last financial year. Rs 9546.42 crore has so far been collected under VAT.

Under the Central Sales Tax (CST) Act, the state has collected Rs 1,031.07 crore this financial year, up to November 2012, as against Rs 1,208.24 crore during the corresponding period of last financial year. This reflected a decline of 14.66 per cent, due to non-receipt of CST compensation from the Central government.