Commericial tax revenue stands at Rs 9,029 cr in MP

Bhopal, Apr 21 (UNI) The Madhya Pradesh Commercial Taxes Department has collected revenues worth Rs 9,029 crore during 2006-07 against Rs 7,699 crore in 2005-06, recording an increase of 17.27 per cent.

Tax collection was Rs 533 crore more than the target of Rs 8,476 crore, an official statement said.

Under the Value Added Tax (VAT), a revenue of Rs 5,310 crore was generated registering an increase of 16.26 per cent over the previous year. The collection was 104 per cent more than the target.

Entry tax Rs 742 crore was collected in 2006-07, a growth of 28.37 per cent as compared to the previous year, 109 per cent more than the target.

A revenue of Rs 161 crore was collected as professional tax, 104 per cent of the target and 7.33 per cent more as compared to the last fiscal.

Collection of hotel taxes at Rs 4.9 crore witnessed an 11.87 per cent increase as against 2005-06, while collection of entertainment tax increased by 52.30 per cent to Rs 21.46 crore.

Under the registration and stamps, a revenue of Rs 1,254 crore was collected recording an increase of 24.03 per cent against a year ago.

In 2003-04, Rs 615 crore was collected as registration and stamps duty, an increase of more than double in the past three years.

UNI