Commercial taxes up by 20 percent
Even though the state of Goa is witnessing rapid economicslowdown after the mining activity came to a halt, the state has witnessed asteep rise in the earnings through various forms of taxes which is beingcollected by the commercial tax department. The department has revealed thatthere is a 20 percent increase in total tax collected in the year 2011-12.
According to the Commissioner of commercial taxes, S GKorgaonkar, commercial taxes contributed around 60 percent of the total revenuecollected by the state and in the year 2011-12, as the department collected Rs.2007 crores through varied avenues. The Value Added Tax (VAT) and Central SalesTax (CST) collected was to the tune of Rs. 1652 crores, followed by Entry Taxwhich was around Rs.197 crores, while Luxury Tax amounted to Rs. 98 crores, andEntertainment Tax was pegged at Rs. 60 crores.
“The net receipt has certainly increased as compared to lastyear and we are confident that the there won’t be any shortfall in terms ofcollection of taxes in future. Also various measures been adopted so as tocollect more and more revenue with the resources available with the department”he said.
The commercial tax department’s collection which forms as abackbone of the state’s economy also proves that even though mining ban hasaffected the people at large, the tax earnings have not dropped. The departmenthas also begun a series of inspections all over the state so as to collect morerevenue and keep the growth rate of tax receipts increasing annually.
