TASMAC to Net Additional Rs 3,000 Crore

Published: 14th February 2014 08:30 AM  |   Last Updated: 14th February 2014 08:30 AM   |  A+A-

The 2014-15 Budget presented in the Assembly by Finance Minister O Panneerselvam on Thursday saw a major role for TASMAC, at least as far as tax revenues are concerned. The Finance Department of the State government has estimated that TASMAC would net `3,000 crore more than it did in 2013-14 just through sales tax and state excise, accounting for a whopping 26.31 percent of the Budget Estimate of the the entire tax revenue of the State.

In 2013-14, TASMAC pulled in an estimated tax revenue of `23,401 crore. Of this, an estimated `17,532 crore was sales tax and `5,868 crore was state excise duty.

The Finance Department has estimated that these figures could rise, pegging the total tax revenue from TASMAC in 2014-15 at `26,295 crore.

Of this, the sales tax component is expected to be `19,812 crore while the state excise component is expected to be `6,483 crore. 

In the overall tax revenues of the State, TASMAC is estimated to have pulled in 23.58 percent of the `91,220 crore earned by the government through various taxes. When it took over sales and marketing of all liquor in the State under the previous AIADMK regime in 2003, it earned the government a tax revenue of `3,639.93 crore.

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