Com Taxes Dept sets Rs 27,000 cr tax collection target for current fiscal: Sushil Modi

Com Taxes Dept sets Rs 27,000 cr tax collection target for current fiscal: Sushil Modi

- in economy, State News
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Patna: Bihar Deputy Chief Minister Sushil Kumar Modi on Wednesday said that the commercial taxes department has registered a growth of 8.14 per cent in tax collection in 2017-18 over the corresponding period of last financial year. Modi said the department has set the tax collection target at Rs 27,000 crore for the current fiscal which is 27 per cent up from the last financial year’s collection.

Modi, who also holds finance and commercial taxes department, said this after holding a review meeting with the department’s Commissioner, Additional and Deputy Commissioners and other senior officials at a city hotel here. “Our tax collection has witnessed an increase of 8.14 per cent and raked in Rs 20,277 crore in 2017-18 against the financial year 2016-17. The department registered 8.14 per cent of growth despite 2017-18 fiscal being a challenging year as new indirect tax regime GST was implemented across the country,” Modi said.

Prime Minister’s Chief Economic Adviser Arvind Subramanian has given consent for his Bihar visit in order to have discussions on how to make better tax collections under GST regime, Sushil Modi said. The state government collected Rs 5548 crore from petroleum products in the last financial year of 2017-18 while it raked in Rs 237 crore from electricity duty, Modi said. He added that state could mop up Rs 4594 crore on account of non GST collections that included- central sales tax, entry tax, old dues of VAT reimbursements etc. The state got Rs 3041 crore as GST compensation from the Centre, he added.

A team of Commercial taxes department will be sent to other two-three states to undertake study of the implementation of GST, the finance minister said. Modi also directed the officials concerned to hold meeting with traders and businessmen in all the circles and get the feedback from them as what problems they are facing in GST and also try to resolve their problems. Such meetings with businessmen should be held every four months, he added.

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