West Bengal's commercial tax collection may touch Rs 8300cr

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Thursday , March 27, 2008 at 0023 hrs West Bengal's commercial tax collection for the current fiscal is estimated to be around Rs 8,300 crore, according to its commissioner of commercial tax, HK Dwivedi.

Dwivedi was speaking at an interactive session on the 2008-09 state Budget organised by the Bharat Chamber of Commerce. He said the rate of growth of the tax was 17%.

Quoting the Indian finance minister, he said: "The goods and services tax (GST), once implemented in 2010, will be a one-tax systen that merges Vat, excise duty, sales tax and amusement tax."

Coming back to the state, he said: "In West Bengal, the State Bank of India will start electronic payment of taxes in May this year." He also said "three to four other commercial banks will also provide the service in another four months."