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Delhi Sees 23 Percent Increase in Taxes
Thursday, 19 January 2012, 15:58 IST
New Delhi: Delhi's tax collection for the first nine months of the current fiscal increased by 23 percent at 
14,511 crore compared to 11,822 crore collected in the same period of 2010-11, Sheila Dikshit, Chief Minister, announced.
"There has been a growth of 23 percent during the first nine months of the current year as compared to corresponding period of the last financial year despite the economic slowdown," Dikshit, who also holds finance portfolio in the government, said in a statement.
According to her, the tax collections for the nine months which ended December 31, saw the highest growth in levies generated from motor vehicles registration at 61 percent. "The target of taxes on motor vehicles was 800 crore and an amount of 795 crore has been collected. Total 99 percent of the target has been achieved, indicating a growth of 61 percent," Dikshit said.
Stamps and registration fee also reported an increase of 42 percent in the period under review at 1,619 crore collection. The state excise collection also jumped 26 percent at 1,748 crore and VAT (Value Added Tax) saw 18 percent increase at 10,084 crore in the period under review.
"The target for state excise in the current year is 2,300 crore. An amount of 1,748 crore, 76 percent of the target, has been collected, showing a growth of 26 percent during April-December 2011." Dikshit further said that about 72 percent of the total tax collection target for the fiscal has been achieved by December 2011. The government has set an annual tax collection target of 20,246 crore in 2011-12.
Source: IANS
14,511 crore compared to 11,822 crore collected in the same period of 2010-11, Sheila Dikshit, Chief Minister, announced.
"There has been a growth of 23 percent during the first nine months of the current year as compared to corresponding period of the last financial year despite the economic slowdown," Dikshit, who also holds finance portfolio in the government, said in a statement.
According to her, the tax collections for the nine months which ended December 31, saw the highest growth in levies generated from motor vehicles registration at 61 percent. "The target of taxes on motor vehicles was 800 crore and an amount of 795 crore has been collected. Total 99 percent of the target has been achieved, indicating a growth of 61 percent," Dikshit said.
Stamps and registration fee also reported an increase of 42 percent in the period under review at 1,619 crore collection. The state excise collection also jumped 26 percent at 1,748 crore and VAT (Value Added Tax) saw 18 percent increase at 10,084 crore in the period under review.
"The target for state excise in the current year is 2,300 crore. An amount of 1,748 crore, 76 percent of the target, has been collected, showing a growth of 26 percent during April-December 2011." Dikshit further said that about 72 percent of the total tax collection target for the fiscal has been achieved by December 2011. The government has set an annual tax collection target of 20,246 crore in 2011-12.
Source: IANS