A Comptroller and Auditor General of India (CAG) report has revealed under-assessment/short-levy/loss of revenue aggregating to ₹750.43 crore by State Excise and Land Revenue departments apart from other departmental offices.
The CAG report, placed before the State legislature on Thursday, said this was found following audits of 386 units of Value Added Tax, State Excise, Taxes on Motor Vehicles, Stamps and Registration Fee, and Land Revenue during 2017-2018. “During the year, the departments accepted under-assessment and other deficiencies of ₹20.84 crore and collected ₹89.74 crore,” the report said.
Total revenue receipts of the State government for the 2017-2018 amounted to ₹1,46,999.65 crore against ₹1,33,213.79 crore for the previous year. As much as 64% of this was raised by the State through tax revenue (₹87,130.38 crore) and non-tax revenue (₹6,476.53 crore). The balance was received from the Government of India as State’s share of divisible Union Taxes (₹31,751.96 crore) and Grants-in-Aid (₹21,640.78 crore). A total of 1,385 inspection reports containing 4,099 observations involving money value of ₹1,467.14 crore were pending with various departments for settlement at the end of June 2018,the report stated.
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The report pointed out that delay in notification of Guidance Market Value (GMV) and finalisation of values below the prevailing market trends adversely impacted revenue realisation. Indicators of market value such as sale agreements, deposit of title deeds, base price quoted by the developers, loans sanctioned by banks, and income tax deducted at source were not considered appropriately while estimating GMV, according to the report.
Comparison of values stated in the above documents with their respective final sale deeds in 3,335 cases revealed suppression of value to the tune of ₹2,232.40 crore.