The department of trade and taxes, Government of NCT of Delhi, has claimed to have created a record in value added tax (VAT) collection this year.
The department of trade and taxes, Government of NCT of Delhi, has claimed to have created a record in value added tax (VAT) collection this year. Providing details about the collection, VAT commissioner S.S. Yadav informed that the total tax collection in the current financial year crossed Rs 20,000 crore mark on March 25, 2016.
Mr Yadav claimed that the VAT collection so far stands at Rs 2,000 crore, higher than the VAT collection in the corresponding period last financial year.
The VAT commissioner informed that Delhi has witnessed a growth of 11 per cent in VAT collection in the current financial year as compared to the 2 per cent growth last financial year.
“The VAT growth rate in Delhi in the current financial year is among the highest in the country. The achievement is commendable considering the fact that some of the states have registered negative growth in the current financial year,” Mr Yadav said.
Value added tax is the most important source of government revenue and accounts for more than two-third of the total revenue of the Delhi government.
Mr Yadav said that the record growth in VAT collection this year has been possible due to several measures.
“The tax base has been widened by adding more than 52,627 new registered dealers in the network. Information technology has been used in a big way to analyse the data and identify defaulters.”
“Data-sharing arrangements have been operationalised with the Central government and other state governments, including the Central Board of Excise and Customs, ministry of finance and ministry of corporate affairs. Besides this, data-sharing has been done with other state governments,” he added.
Effective check posts placed on entry of goods in Delhi through Delhi Sugam-2 form and automatic number plate reader cameras at border points have helped in generating revenue.
Extending his gratitude towards the people of Delhi, Mr Yadav said that the people of Delhi have contributed a lot in the increase of collection.
