During the initial eight months of the present fiscal, the Haryana government has received more than Rs.20,000 Crore as total tax collection. Official data shows that by December 7, 2016, 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.
According to figures, major chunk of the total tax receipts between this period came in shape of value added tax + 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.
Notwithstanding the decline in tax collection due to demonetisation announced by the Centre on November 8, a total Rs 2,760.78 crore were collected in shape of various taxes from November 9 to December 9 against a low amount of Rs 2,400.45 crore collected between October 8 to November 8. Haryana 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.
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 beleives that the tax collection by the end of present fiscal would be higher than the previous one.