Agartala, March 5 (TIWN): With the aim to improving efficiency, ensure transparency and making the e-services dealers’ friendly, the state government is implementing ‘Mission Mode Project for Computerization of Tax Administration (MMPCTA), said Finance minister Bhanulal Saha in his budget speech.

According to Saha, the entire project will be implemented at a cost of Rs. 730.41 lakh. Through e-payment, approximately Rs. 192.60 crore has been realized during the year 2014-15. The e-services have been proved to be a transparent, user friendly, hassle-free means to the business community, he added.

According to the budget speech by Saha, for the purpose of additional resource mobilization, rationalization of rates of different taxes and excise duties has been done. VAT on tobacco and other tobacco products have been reduced from 35 % to 5 % on October 14, last year.

As a result of revision of rates, it is expected additional revenue to the tune of Rs. 13.50 crore per annum would be generated. In order to encourage the aviation sector, Sales Tax on Aviation Turbine Fuel (ATF) has been reduced from 22 % to 18 % with effect from November 27, last year, added Saha.

Besides, the rate of Luxury Tax has been enhanced from 10 % to 15 % with effect from October 17, last year vide ‘The Tripura Tax on Luxuries in Hotels and Lodging Houses (Second Amendment) Act, 2014’. As a result, it is expected that additional revenue to the tune of Rs. 0.50 crore per annum will be generated, Saha further mentioned.

In the Revised Estimates of 2014-15, the state’s own tax and non-tax revenue has been projected at Rs. 1241.00 crore and Rs. 222.90 crore respectively. In the budget estimates of 2014-15, the targets for collection of state’s own tax and non-tax revenue were Rs. 1278.37 crore and Rs. 290.00 crore respectively.