Commercial tax collection soars by 10.7 per cent
PANAJI
Value-added-tax (VAT), which contributes the largest chunk to this, added Rs 1,920 crore to State’s exchequer in FY 2015-16 compared to Rs 1,765 crore in the previous year. The State government had taken a number of steps last year, which have augmented its VAT collection. For starters, the government had imposed VAT on builders (built-in price of flat paid by the buyer) from November 1, 2015.
Similarly, Chief Minister, Laxmikant Parsekar, in his budget speech had announced that VAT on mobile phones costing more than Rs 12,000 would increase.
Of various types of commercial taxes, entertainment tax collection saw the highest growth in FY 2015-16. The government’s entertainment tax collection grew by
MONEY MATTERS
Goa earns Rs 2,679 cr from commercial taxes compared to last year
Entertainment tax collection up by 21.9 per cent, brings in Rs 161 cr
Collections through tax on entry of goods stands at Rs 446 cr, up 16.7 per cent
VAT also adds Rs 1,920 cr to State’s exchequer
THE ROAD AHEAD
Tax collection expected to jump at an even higher rate this year
Hotels charging per night tariff from Rs 750 to Rs 1,000 now under ambit of luxury tax
Entry fees for casinos also hiked from Rs 700 to Rs 1,000 per person .
