Gandhinagar: Even the case of Covid-19 in the state hovering over the past few weeks, economic activity enrolled impressive growth.
Government revenues from various sources have increased by 36% in the period from April to July this year, compared to the same period last year.
Significantly, compared to the appropriate period of last year (2020), revenue from stamp duty and property registration has surged 148% in the period from April to July this year, reflecting a major Spurt in real estate transactions since April this year.
In July 2020 which was right after locking, revenue from stamp duty & registration fee was Rs 588 Crore.
In July this year, revenue from stamp duty and registration touched the sign of the Crore RS 968.
Considering the April to July period, revenue from stamp duty and registration by 2020 was Rs 1,234 Crore.
This year, revenue from stamp duty and registration between April and July stood at Rs 3,061 Crore.
Impressive as it has become stamp duty and registration revenue that the state government has obtained 34% of its annual budget target Rs 8,700 Crore in the first four months of the financial year.
According to official figures of the state government, the number of property documents registered in the first four months 2020-21 is 1.94 lakh, which increased to 4.07 lakh in the first four months 2021-22, reflecting a leap of 110% total sales Registered in the state.
However, the Main Revenue Source of State – Service Goods & Service Tax (GST) only grew 6% in the first four months of the ongoing fiscal year compared to the same period last year.
Revenue from stamp duty and registration grew by 148% in the first four months of the fiscal year today compared to the same period last year.
Motor vehicle tax has registered growth of 110% in the first four months of the financial year compared to the appropriate period of last year.
VAT (Value Added Tax) on petroleum products showed an increase in 81% in revenue in the first four months of the ongoing financial year compared to the period in accordance last year.
Government revenues from the sale of liquor (prohibition & excise tax) have registered a 61% increase in the April-July period this year compared to the same period last year.
Although government revenue from all sources shows a marginal decline in 2020-21 (RS 79,793 Crore) compared to the previous financial year of 2019-20 (RS 86,534 Crore), the government is optimistic that it will be able to cross the revenue target of Rs 1,08,035 Crore this year .
Guj: Stamp Duty rose 148% during April-July this year
