Tamil Nadu tax revenue generation surpasses target

The minister for Commercial Taxes noted that tax collection has surpassed the target by Rs 7,265.01 crore year-on-year. “As regards the target and projections for the year, the revenue generation is pegged at 103 per cent. The increase in revenue is pegged at 13.81 per cent for the corresponding period,” the minister said. 

On the collection of the Goods and Services Tax (GST), the minister noted that the state government has collected as much as Rs 23,317 crore (excluding the tax revenue from petroleum products and alcohol) up to January 31 since the implementation of GST on July 1 last year. 

In the same period, the state has collected only Rs 19,017.87 crore and the present year’s collection has registered an increase at 22.61 per cent. Veeramani noted that the state has turned the top revenue spinner for the Centre and is in the second spot in contributing towards tax collection. 

The minister also said the state was receiving the least compensation from the Centre as it has managed to generate revenue despite the implementation of GST being painted as detrimental to the state’s tax revenue generation by the Opposition.