McDonald’s in Ludhiana pays Rs 1 cr as VAT

The VAT collected from the McDonald’s fast food outlet in Ludhiana is to the tune of around Rs 1 crore annually.

This information was given to the Punjab Vidhan Sabha by Finance Minister Manpreet Singh Badal while replying to the debate on the budget here today.

Laying stress on increasing the tax revenue in the state, the Finance Minister pointed out that the total VAT collection from Ludhiana was equal to the amount collected from McDonald’s alone in a year. Tax collection (VAT) in Punjab increases every year by 10 to 11 per cent, he informed the House while stressing that the increase should not be less than 25 per cent annually from all government departments.