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Thiruvananthapuram : The Kerala Government is expected Garner Rs 17,000 crore from commercial taxes this year, compared to Rs 7000 crore in 2005-06, an increase of 140 per cent.
Announcing the first 'Kerala Trade Awards' to acknowledge the highest Commercial Tax payers and companies with the best record of tax compliance in the state in various trade and commerce segments during the assesment year 2008-09, state Finace Minister Dr T M Thomas Isaac today said the award showcases the winners as role models in best tax practices, important stakeholders and partners in development process.
''With the institutionalisation of the VAT system and other proactive initiatives from the Department of Commercial Taxes, there has been a paradigm shift in the sales tax assesment system in Kerala,'' he said.
The award was instituted by the Department of Commercial Taxes on understanding the need for giving recognition to honesty, compliance, tax performance and best practices, among tax payers, the minister said.
The awards incorporate and non-corporate sectors were announced in seven trade catergories -- Gold, Construction materials, Readymade garments, motor vehicles, electrical and electronic goods, rubber products, white goods and sanitary products, he said.
The winners in corporate sectors were Joy Alukkas India Private Limited, Kochi (Gold), Asian Paints (Construction materials), Bina Kannan Seemati, Kochi (Readymade garments), Indus Motors, Ernakulam (Vehicles), Appolo Tyres, Kochi (Rubber), Samsung Indian Electronics Private Limited, Kochi ( White goods and sanitary products).
--UNI
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''With the institutionalisation of the VAT system and other proactive initiatives from the Department of Commercial Taxes, there has been a paradigm shift in the sales tax assesment system in Kerala,'' he said.
The award was instituted by the Department of Commercial Taxes on understanding the need for giving recognition to honesty, compliance, tax performance and best practices, among tax payers, the minister said.
The awards incorporate and non-corporate sectors were announced in seven trade catergories -- Gold, Construction materials, Readymade garments, motor vehicles, electrical and electronic goods, rubber products, white goods and sanitary products, he said.
The winners in corporate sectors were Joy Alukkas India Private Limited, Kochi (Gold), Asian Paints (Construction materials), Bina Kannan Seemati, Kochi (Readymade garments), Indus Motors, Ernakulam (Vehicles), Appolo Tyres, Kochi (Rubber), Samsung Indian Electronics Private Limited, Kochi ( White goods and sanitary products).
--UNI
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