Team News Riveting
Raipur, April 7
Chhattisgarh’s commercial tax (registration) revenue has been pegged at Rs 1955.95 crore in the financial year 2021-22, recording a growth of 23.06 per cent compared to previous year’s corresponding period.
Similarly, there has been an increase of 12.43 per cent in the number of registered documents as compared to the previous year, a state government communication said.
The Chhattisgarh government under the leadership of Chief Minister Bhupesh Baghel has decided to provide special relaxation in the registration rules. The initiative facilitated the department to provide a rebate of 02 per cent in the registration fee on the documents related to the sale of residential houses up to Rs 75 lakh. The order came into effect from August 2019.
The guideline rates of land were reduced by 30 per cent from July 2019. In this year, a total of 40 per cent reduction was done in urban bodies by giving an additional 10 per cent exemption. Meanwhile, the ban on the sale of small plots was also lifted. A positive environment was created by the steps taken by the state government.
It resulted in accelerating the process of purchase and sale of land that resulted in the revenue surge.
Inspector General of Registration and Superintendent Ms. Iffat Ara said that revenue collection of Rs 1113.16 crore was recorded in the financial year 2018-19, Rs 1640.66 crore in 2019-20, and Rs 1589.42 crore in the year 2020-2021. Record revenue collection of Rs 1955.95 crore was witnessed in this year (2021-2022).
The revenue collected is 108 per cent of the target set for the fiscal. Similarly, over 2.01 lakh documents were registered in the year 2018-19, 2.20 lakh in the year 2019-20 and 2.66 lakh in the year 2020-21. As many as 2.99 lakh documents were registered in the financial year 2021-22.
