VAT collection in Haryana grows 18 pc

Haryana has collected Value Added Tax (VAT) to the tune of Rs 3,534 crore till October this year, a growth of 18 per cent over the comparable period last year.

The state had netted Rs 2,998 crore as VAT till October last year, an official of Haryana Excise and Taxation Department here.

"Cement and construction have been the two industrial sectors which are pushing up the tax collection in the state," he said.

The state has set a target of collecting VAT amounting to Rs 6,660 crore by March 2008 against Rs 5,366 it did in the last fiscal.

"The state is hoping to surpass the target of VAT collections this year also."

However, the collection of excise duty from about 4,000 liquor vends in the state has grown by nine per cent till October this year. The state collected Rs 910 crore as excise till October against Rs 836 crore collected in corresponding period last year.

Source : Economic Times - Gurgaon, Haryana, India, dated 06/12/2007