Indirect tax collection indicates smart growth despite mining closure
Bhubaneswar, 15/7 : Indirect tax collection of the state has indicated impressive growth in the first two month of the 2016 fiscal. The tax officials are optimistic about the growth in revenue will continue the last year’s rate.
“The net central excise duty collection of the state compared to the last fiscal has seen a growth of more than 49 per cent. It was the highest growth in revenue realisation in the country. This year it will remain at the similar level around 50 per cent,” Chief Commissioner (CEC&ST), Sushanta Kumar Panda said.
On the segment wise collection of tax, Panda said total collection in the month of April in central excise was Rs 360.91 crore against last year’s revenue of Rs 177.78 crore. The growth was around 103 per cent. Similarly, it has also collected customs duty of Rs 150.27 crore and service tax of Rs 200.8 crore during this period. In last fiscal, total collection in central excise was Rs 4,680 crore against a target of Rs 4,670 crore. Similarly, it has also collected customs duty of Rs 1,871.66 crore and service tax of Rs 1,872.45 crore during this period.
On the performance of service tax and customs duty collections, Panda said the department could not achieve higher growth mainly due to non-performance of mining sector. The lower assessee base in the state also negatively impacted the service tax and customs collection in the state. “We are expecting the assessee base to rise to 1 lakh against the present base of 45,000,” Panda said adding that the department hopes to bring in more number of assesses into the service tax net during this current fiscal.” According to him, he is now targeting semi-urban towns to increase the assessee base. “We are trying to educate the entrepreneurs and trying to include them to the government processes,” he added. The department has created 7 new divisions and 29 new ranges to facilitate revenue collection work and attend to the requirements of assesses.