Registering an increase of whooping Rs965.97 crores at the rate of 11.9 per cent in the excise collections, Punjab Government has collected Rs9114 crore as taxes by the end of August 2014 as compared to Rs7317.92 crores collected during the same period.
The tax collection under the value added tax (VAT) had increased by 11.9 per cent, central taxes by 5.8 per cent, entertainment tax by 8.8 per cent, luxury tax by 18.4 per cent and overall revenue from State excise had registered 12.5 per cent growth.
The State collected Rs7,317.92 crores taxes from sales and trade Rs29 crores from entertainment and luxury tax and Rs1,767 crores from the State excise, said an official spokesperson while giving an account of revenue collections under various heads by excise and taxation department.
A Spokesperson of the State Government said the reasons behind high growth rate in tax collection are online VAT refund disbursal and star rating scheme besides creating a dedicated refund fund to expedite the clearances of refunds.
He added that Voluntary Disclosure Scheme also encouraged the dealers to come clean and pay their unpaid tax.
“Single stage taxation system has been introduced for the ease of traders to free them from the burden of keeping books of accounts. Under this, tax has to paid at the first point of sale stage, that is manufacturer or first importer,” he said.
Besides, Annual Award Scheme has been launched for highest tax paying manufacturers and traders. About 200 persons have been honoured.
Highlighting the departments’ initiatives, spokesperson said that Punjab was the first State to launch one of its own kind “Rahat Scheme” to facilitate 1.86 lakh shopkeepers and traders.
To provide relief to small traders to end inspector raj, the Department has launched Punjab Small Traders Rahat Scheme-2014 extending the benefit of cashless treatment up to Rs50,000, life and accidental insurance worth Rs2 lakh, and Rs5 lakh insurance in case of damage to property due to fire.
“State Government is focusing on accelerated business and trade growth by creating a congenial environment by eliminating inspector regime besides providing hassle and tension free trade activities,” he said.
Under Rahat Scheme, traders have to file self-declaration on a single page application for registration and no excise official would visit or inspect their premises for checking purposes.
The scheme is also said to prove a boon for the traders relieving them from maintaining account books, employ accountants, printing of stationary besides saving their plenty of precious time and energy.
He added that computerisation of department has already launched for the facility of e-filing, e-permit, e-pass and e-billing to benefit the traders besides facilitating corporate and businessmen to larger extent.