Yogi Adityanath, the chief minister of Uttar Pradesh, said Friday that the value-added tax on petrol and diesel is the lowest in the state, adding that there will also be no VAT hike in the near future.
The Chief Minister reviewed the updated status of state revenue collection with state tax officials at his official residence. Finance Minister Suresh Khanna was also present on the occasion.
“Keeping in mind the greater public interest, we have not increased the VAT rate or imposed any new tax in the state. Today the lowest VAT rate is on petrol/diesel in Uttar Pradesh. There will be no VAT increase in the near future With this in mind, efforts should be made to increase revenue collection according to the zonal potential,” said Yogi.
The Prime Minister took a report from all zone commissioners regarding the registration status of traders in GST, VAT collection and tax evasion efforts etc. on the efforts being made to achieve the target and gave the necessary guidance to the revenue collection according to the potential of different zones.
“There has been a steady increase in the state revenue collection due to planned efforts. The state’s total revenue collection amounted to Rs 58,700 crore in the fiscal year 2017-18, which has increased to about Rs 1 lakh crore in the year 2021-22 The collection for the first quarter of the current fiscal year is Rs 32,386 crore against the target of Rs 31,786 crore. This can be called satisfactory,” he said.
Yogi said efforts should be made to meet the tax collection target of Rs 1.50 lakh crore for the fiscal year. “This is the amount that will be raised from the public, which will be spent on the development of the state, on public welfare works. There is a huge potential in the state. There must be concerted efforts to generate revenues that are consistent with the GST and VAT collection target of Rs 1.50 lakh crore for the current fiscal year,” he said.
The Chief Minister, while instructing officials to give weekly targets to the field officers, said he will hold a monthly meeting to review the same. should be reviewed weekly. A zone-by-zone report must be made on the raids carried out and the revenues collected. I’ll be leading the monthly meeting and reviewing it by zone myself,” he said.
“Creating awareness among traders, more and more traders need to be registered in GST. Traders need to be made aware of the benefits of GST registration/filing. Organize seminars in small towns. There is still a lack of awareness in many areas, such as Gorakhpur and Basti divisions. This will require special efforts by the field level officers,” Yogi added.