With the provision of e-payment option for commercial taxes since last month, the Tamil Nadu Government has realised Rs. 963 crore of the total Rs. 2,500 crore monthly value added tax (VAT) revenue through online payments.
This provision, which is compulsory for businesses with annual turnover exceeding Rs. 200 crore, is open for all commercial ventures. At present, this facility can be accessed only through the public sector major State Bank of India (SBI), which organised an awareness programme on Tuesday for the leading 100 businessmen of Madurai.
Addressing the ‘Dealer’s meet on e-tax payment,’ A. Shanmugam, Assistant General Manager, (Government Business Unit), Local Head Office, SBI, Chennai, said that through this option, the Treasury could realise the revenues immediately while the businessmen are spared the hassles of filling forms.
“An important aspect of this option is that acknowledgement receipts could be generated immediately as could be the challans. This facility is available 24 X 7,” he said. For availing the e-payment option, dealers must obtain the prior approval of Commercial Taxes Department, which also could be done online, and also possess one current account at SBI, said Mr. Shanmugam.
Speaking earlier, S. Murugan, Joint Commissioner, Commercial Taxes Office (CTO), said that VAT was implemented in Tamil Nadu from January 1, 2007, with e-filing option being provided from November 2007.
In Tamil Nadu, while 2,05,254 dealers were utilising the e-filing option, only 1,65,814 were mandated to use it compulsorily. In Madurai Division, while 17,282 were filing their returns online, only 15,472 were mandated, he said.
Apart from sparing the paperwork, this option also reduced the workload of the Government officials. If all traders utilise this option, it will substantially reduce paperwork, he said.
G. Ramanujam, Regional Manger, SBI, A. Jothiraman, Deputy Commissioner (Madurai West), CTO, N. Ramakrishnan, Deputy Commissioner (Enforcement), CTO, and B. Devendhira Poopathy, Deputy Commissioner, CTO, also took part.