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Tripura Government plans to hike tax revenue increasing composite dealers : Bhanulal Saha
TIWN
Tripura Government plans to hike tax revenue increasing composite dealers : Bhanulal Saha
PHOTO : TIWN File Photo

AGARTALA, July 3 (TIWN): With an aim to hike the tax revenue, the Tripura Left front Government has planned to increase the number of composite dealers, said State Finance Minister Bhanulal Saha on Thursday. At present the number of dealers across the state whose yearly income turns out crossing Rs. 10 lakhs rested at 20, 000. They are all brought under the Value Added Tax (VAT). In an assumption it has been found that there are a total of 1 lakh shopkeepers all over the state, he said.

Saha said to the reporters, “To hike the tax revenue, the number of composite dealers needs to be increased through which the income would be brought normal.”

Adding to that Minister talking to the reporters here at the civil secretariat on Thursday said, “At present we are taking 1 per cent tax from the composite dealers here in the state.” The composite dealers are brought under Rs. 3 to 10 lakhs yearly turn out.

Saha also said, “Due to the complexity in the tax department, a section of composite dealers are not coming forward to pay the taxes.” Adding to that Saha said that to facilitate the tax payers, the online system would be made available here in the state.

Besides, he said that a broad agreement has been achieved with the state on most of the issues concerning the implementation of Goods and Services Tax (GST), which is scheduled to be rolled out from April 1, 2016. The GST will subsume indirect taxes like excise duty and service tax at the central level and VAT and local levies on the states front.

However, the Constitution amendment bill providing for the roll-out of the long-pending Goods and Services Tax (GST) was referred to a Select Committee on the month of May, after the opposition forced the government in the Rajya Sabha where it lacks majority.

On yet another issue Minister Bhanulal Saha said, “The departmental officers were asked recently to examine if tax can be hiked from any other sector.” He also said that recently a meeting was held at Dharmanagar with some of the businessmen to create awareness among them so that they move forward to pay the taxes.

On yet another meeting held recently here at Agartala the hawkers demanded the state government to decrease the security deposit which is at present of Rs. 5000.

However, Finance Minister Bhanu Lal Saha addressing his budget speech this year, on the month of February said that the deficit would be covered by means of better tax compliance, austerity measures and additional resource mobilization. He said that the collection of state’s own tax revenue was projected at Rs. 1,320 crore in budget estimates with a growth rate of 6.37 per cent over the revised estimates of last year.

The receipts from share of central taxes have been projected at Rs. 1,890 crore in the budget with an increase of five per cent over the revised estimates of last year

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