Gross revenue collection in Tamil Nadu has grown 10 per cent in 2016-17 over that of the previous year, thanks to VAT collection. However, revenue from registrations has taken a beating, reflecting the slump in the real estate market.

According to the policy note of the Commercial Taxes and Registrations Department, the state’s revenue collection in the last fiscal was ₹67,576 crore against the previous year’s ₹61,709 crore.

In 2016-17, Value Added Tax grew to ₹59,262 crore (₹ 54,804 crore) showing the State managed to weather the impact of dampened petroleum products prices witnessed early in the fiscal followed by demonetisation in November when ₹500 and ₹1,000 currency were pulled out of circulation which sparked an acute currency shortage, and the Vardah cyclone in December 2016.

State’s other revenue includes Central Sales Tax ₹5,125 crore (₹4,037 crore); TN General Sales Tax ₹188 crore (₹211 crore); Entertainment Tax ₹85 crore (₹106 crore); Luxury Tax ₹379 crore (₹357 crore); Entry Tax on Vehicles ₹2,528 crore (₹2,187 crore) and Betting Tax ₹7 crore (₹ 5 crore).

Nearly 95 per cent of Commercial Taxes revenue is paid online over e-payment facility by 1.70 lakh dealers. Over 4.35 lakh dealers file their monthly returns online (out of an estimated 6.5 lakh dealers in the State).

With the shift to Goods and Services Tax from July 1, the State government is bringing in a ‘Samadhan’ scheme to expedite long-pending VAT disputes, announced the Commercial Taxes Minister KC Veeramani in the Assembly today.

Revenue from registration of documents dropped 18 per cent to ₹7,007 crore with over 20.7 crore documents registered in 2016-17.