TEAM HERALD
teamherald@herald-goa.com
PANJIM: With the tourism season round-the-corner and event managers queuing up to slot their events for the next five months, the department of commercial taxes is eyeing a revenue of Rs 95.15 crore from entertainment taxes surpassing its previous fiscal year’s collection of Rs 87.61 crore.
In addition, luxury tax is expected to bring in Rs 154 crore and Value Added Tax (VAT) a whooping Rs 2185 crore.
Officials at the department of commercial taxes say that with mining activity halted the commercial tax collection from this activity has reduced considerably.
“The revenue collection from taxes levied on mining related operations has dipped by 40 to 48 per cent,” said a top official.
Likewise sale of luxury goods has also dropped as spending capacities have ebbed.
It is hoping to make up for the revenue loss through income from tourism related events, hotels, restaurants and other allied activities.
Officials say that even though concessions up to 60 per cent have been given on luxury tax this year which is increased by 10 per cent over last year, there will be no impact as the hotel rooms and accommodation for tourists have increased.
So far the department of commercial taxes has already collected Rs 19 crore from entertainment tax, Rs 400 crore from VAT and Rs 29 crore from luxury tax upto June.
“The collections will see a rise as the months go by,” said this official optimistic that the department will meet its set targets.
Big events such as Sunburn and musical shows slated for December 2013 and January 2014 will be the biggest tax revenue generators and the department says that even if the trend of on-line ticket bookings continues it will all be reflected in the final audited accounts of the organisers based on which taxes are collected.
Other avenues that pool in tax collection for the department are boat cruises, cinemas, DTHs, casinos.
The entry tax on raw materials and so on have also pooled in Rs 55 crore of the targeted Rs 241 crore as against last year’s collection of Rs 235 crore.
