The state revenue department again failed to meet the target of Rs 5000 crore set for collection of stamp duty and registration of properties fee in the year 2013-14. Ironically, stamp duty collection actually went up in this period by Rs.324 crore but it fell short of the target by Rs 267 crore.
In 2013-14, the revenue department could collect Rs 4733.75 crore in contrast to its earnings from stamp duty in 2012-13 when it had collected just Rs 4409 crore. In both years, the target for stamp duty collection was Rs 5,000 crore.
In fact, 2013-14 is the third consecutive year in which the state government has not increased (from Rs 5000 crore) the target for stamp duty & registration fee collection while the targets for Value Added Tax (VAT) and other taxes have been increased substantially. The government has also decided not to increase the stamp duty & registration fee target in the financial year 2014-15 also.
In 2013-14, the state government earned the maximum - Rs 1190.74 crore - from stamp duty in Ahmedabad district, though the collections in the district declined substantially in comparison to Rs 1390 crore collected previous fiscal. The second highest stamp duty & registration fee collection in 2013-14 was from Surat (Rs.659.48 crore) while Vadodara was third (Rs 280.57 crore). Rajkot district was fourth with Rs 258.62 crore collection and Bhuj was fifth with Rs.91.26 crore collection. Collections in Surat, Rajkot and Vadodara in 2013-14 have risen slightly compared to the previous fiscal. The lowest collection was registered in Dangs district which could collect only Rs 0.17 crore.
According to official figures for stamp duty and property registration fee collected, the size of the state's real estate industry has touched the Rs 80,220 crore against Rs 76,271 crore in 2012-13. This does not reflect under-valued property transactions undertaken for evasion of stamp duty and other taxes.
Source:- timesofindia.indiatimes.com
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