Rs. 300m from VAT: Choksy
Finance Minister K. N. Choksy recently conferred with the Inland Revenue Department officials in a bid to increase revenue through the proper collection of VAT, a ministry spokesman said.
Minister Choksy said as a result of these consultations over rupees 300 million had been collected from VAT in July 2003.
"This amount is the second highest collection of VAT within a month since it was introduced," he said.
The collection of tax arrears has also improved with a deadline given for payments.
"We will be prosecuting those who fail to pay their arrears by the deadline," he warned. (FRS)
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