Notwithstanding the decline in tax collection due to demonetisation, the Haryana government has recorded increased in tax receipts with total tax collected in November at Rs.2,830.31 crore as compared to Rs.2,382.42 crore in October, Rs.2,165.19 crore in September and Rs.2,223.14 crore collected in August respectively.
Despite note ban, there has been a rise in tax receipts in the state as official data shows that a total Rs 2,760.78 Crore were collected in shape of various taxes from 9 November to 9 December against a low amount of Rs 2,400.45 Crore collected between 8 October to 8 November. The data shows that till 7 December, the total tax collection of the state is Rs 20,706.13 Crore, nearly 59.67 per cent of the of the total tax receipts Rs 34,700 Crore projected for the financial year 2016-17.
Ruling out slowdown in tax collections following demonetisation and hoping for a higher tax collection this fiscal year, State finance minister Captain Abhimanyu said the tax collection after the demonetisation in the state has refuted the reports were indicating slowdown in tax collection. "We will end the present financial year with higher tax collection," he added.
According to figures, out of the total tax collection of Rs 20,706.13 Crore during the present fiscal, major chunk of the total tax receipts between this period came in shape of value added tax plus central sales tax (VAT+CST) as more than Rs 16,000 Crore have been received under this category by the end of November during the present fiscal. It was followed by the Excise as a total Rs 3,287.11 Crore is the total figure of the tax receipts under this category while rest of the receipts are shared by luxury tax, entertainment tax, LADT, PGT and Compensation received for the loss of revenue.
During the financial year 2015-16 the total tax collection in Haryana was Rs 29,634.16 Crore including Rs 21,546.98 Crore as VAT + CST collection, Rs 4,373.71 as Excise tax, Rs 3,003.08 as Compensation. Captain believes that the tax collection by the end of present fiscal would be higher than the previous one.