Punjab to generate Rs 7000 crore revenue this fiscal year

Jalandhar, June 11 (UNI) Punjab Excise and Taxation Department has set a target to generate Rs 7000 revenue this fiscal year, which is nearly 20 per cent more than the last financial year.

Excise and Taxation Commissioner A Venu Prasad told media persons here today that last year's revenue collection was Rs 5871 crore, whereas this year the target has been increased to Rs 7000 crore, which the department is hopeful to achieve.

Mr Prasad, who was here to conduct a meeting of department officials of all the districts regarding planning of taxes for the current fiscal year, said total revenue collected last year from Jalandhar division was Rs 2328 crore, while for this financial year, the target has been fixed at Rs 2750 crore.

Out of total revenue collected last year in state, Rs 1500 was from petroleum products only, he added.

He said that officers have been directed to clear the pending refund payments of the business houses at the earliest. Rs 200 crore of refunds had been cleared last year while Rs 60 to 70 crore were yet to be refunded this year, he added.

He said that for the benefit of traders, the department has started e-filing of taxes this year, whereas the department has also proposed to introduce e-payment system, which would be introduced in the next two to four months.

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