Thursday, June 4, 2009

VAT collection Rs 33,954 cr in 2008-09

The gross sales tax revenue receipts of Maharashtra witnessed a 9.28 per cent jump to Rs 33,954 crore in 2008-09 despite an economic slowdown due to global financial crisis, Finance Minister Dilip Walse-Patil informed the State Assembly during his budget presentation.

Mr Patil said reduction in tax rate on petrol and diesel and fall in the crude prices in the international market led to an approximate loss of Rs 586 crore to the state exchequer during the year.

In this backdrop, the achievement of target for sales tax receipts was a great satisfaction, he said.

Referring to the implementation of goods and services tax throughout the country from April one next year, he said the move would pave way for a uniform system of taxation subsuming all existing taxes.

To encourage the online service, Mr Patil said the dealers who have enrolled themselves for e-services on the sales tax department's website, can file their returns for all the periods from April 1, 2005, to June 30, 2009, before July 31, electronically. They shall not be liable for penalty for delay in filing of returns.

A simplified refund scheme, like voluntary refund scheme, has been proposed for dealers having refund claim below Rs five lakh.

This will benefit dealers with small refund claims.

Referring to the computerisation of sales tax department, the Minister said the department would soon make available to dealers services such as e-payment and e-registration.

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