An appraisal of Karnataka’s half-yearly sales tax accumulating — Rs 7,315 crore amid April and September — shows a arresting 26% advance from the agnate aeon aftermost year back the amount stood at Rs 5,788 crore. Motor fuels accept been kept out of the appurtenances and account tax (GST) ambit, and sales tax — which increases with the backpack in the abject prices of fuels — is levied on them.
On an average, the bartering taxes administration had been earning about Rs 950 crore a ages from petrol and agent sales. The amount has gone up to Rs 1,300 crore this fiscal. The sales tax airiness seems to accept helped all-embracing bartering tax collection, which affected Rs 32,748 crore in the aboriginal bisected of this fiscal, adjoin the approaching anniversary ambition of Rs 66,920 crore. This includes GST, sales tax and able tax amid others. The 49% ambition accomplishment is apparent as college than average, as half-yearly tax accumulating is usually beneath 40% and alone picks up in the additional half.
“At this rate, we are attractive at before the target. We may aggregate at atomic Rs 15,000 crore added than the target,” said a chief official in the accounts department.
Fuel prices accept attempt through the roof in the accomplished three months. The amount of petrol, which costed Rs 74.71 per litre in aboriginal April, accomplished its aiguille at Rs 84.59 in September. It was actuality awash at Rs 83.37 a litre in Bengaluru on Monday.
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