With the 2015-16 Financial Year drawing to an end and the Commercial Tax collection registering a low growth, the State Government seems worried over achievement of its target on Own Tax revenue.
According to official figures, growth in collection of Commercial Tax till end of February was about 09 per cent. Several measures were initiated to accelerate the collection, but sluggish market conditions resulted in slow growth of Sales Tax, officials admit.
While the target of Own Tax revenue was Rs22, 890 crore, achievement by 29 February was Rs18,871 crore, which is 82 per cent of the target. The Sales Tax collection target was Rs13,818 crore and the achievement was Rs10,826 crore, which is 78 per cent of the target.
The collection of more Own Tax in State Excise has, however, come as a relief and the collection in this sector is surging ahead with meticulous planning and execution.
While State Excise collection target was Rs2,500 crore, the collection by end of February was Rs2,094 crore with more than 30 per cent growth over last year. The Excise Department is hopeful of achieving the target in a comfortable manner, said sources.
In case of collection of revenue in Stamp & Registration, the growth is over 190 per cent, which is sorts of record. The target for collection of Stamp and Registration revenue for 2015-16 was Rs1,662 crore, and by end of February the collection was Rs2,058 crore. This is due to collection of Stamp Duty on mining leases.
However, on the land revenue front, the Government has a minor growth of 3.52 per cent, and in Professional Tax, the growth has been 2.25 per cent.
On non-tax collection, the annual target was Rs9,266 crore and the collection by February-end was Rs6,748 crore, which is 72.82$ of the target.
The State revenue’s lion share comes from mining, which has contributed Rs4,776 crore, though there is a lacklustre scenario in this sector. An overdrive for more collection of taxes by the Department of Steel & Mines has resulted in a 38 per cent growth over the corresponding period of last year. The target for this Fiscal is Rs6,626 crore.
While the target for both tax and non-tax Revenue collection was Rs31,156 crore, the collection by February-end was Rs25,619 crore.