J-K registers 34.73 pct increase in VAT collections

Jammu and Kashmir has registered a 34.73 pct increase in VAT Tax collections by the end of October,2009,over the mop-up in the same period last year.

Jammu and Kashmir has registered a 34.73 per cent increase in Value Added Tax collections by the end of October,2009,over the mop-up in the same period last year.

“The Value Added Tax (VAT) collections in Jammu division have registered a stupendous increase of 34.73 per cent by ending October 2009 over the VAT collections of the corresponding period of the previous year,” Finance Minister A R Rather said here.

He said that General Sales Tax had grown by 26.59 per cent whereas the collections under Passenger Tax registered a rise of 21.57 per cent and Motor Spirit 19.71 per cent by October-end.

As against a cumulative tax collection of Rs 80394.75 lakh by October-end of 2008,the tax collections by the end of this October had gone up to Rs 95340.676 lakh,registering an overall growth of 18.59 per cent.

The minister reviewed the performance of the commercial taxes department and asked officials to put in extra efforts so that the revenue targets fixed for 2009-10 are not only achieved but surpassed.

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