Jaitley Launches Portal to Collect Rs 2 Lakh cr non-tax Receipt

Jaitley Launches Portal to Collect Rs 2 Lakh cr non-tax Receipt

Jaitley Launches Portal to Collect Rs 2 Lakh cr non-tax Receipt – State-owned NTPC remitted an interim dividend of Rs 989 crore to government through the electronic mode today.

Finance Minister Arun Jaitley today launched a portal to electronically collect over Rs 2 lakh crore annually in non-tax receipts from sources such as dividends by state-owned firms, RBI and spectrum fee.

“This (portal) has its own advantages and it will reduce a lot of manual work now,” Jaitley said while inaugurating the Non-Tax Receipt Portal (NTRP) which was developed by the Controller General of Accounts (CGA).

State-owned NTPC remitted an interim dividend of Rs 989 crore to government through the electronic mode today.

The annual collection of non-tax receipts amounts to over Rs 2 lakh crore. It mainly includes dividends, interest receipts, spectrum charges, royalty, licence fee, sale of forms and RTI application fees.

As per the Budget, the government aims to collect over Rs 2.21 lakh crore as non-tax receipts during 2015-16.

Earlier in the day, the Finance Ministry tweeted: “Annual collection of non tax receipts is over Rs 2 lakh crore. Biggest share flows from dividends paid by Public Sector Undertakings, RBI.”

Arun Jaitley further said that it is “an important occasion when the office of the CGA has now started using technology and created a receipts portal for all the payments into the Consolidated Fund of India”.

NTRP provides a one-stop platform to citizens or corporates or other users to make online payment of non-tax receipts to Government of India.

While taxes are largely collected using the e-payment mode, non tax revenues flow mainly through physical instruments such as bank draft or cheque or cash.

“The online electronic payment will help common users/citizens from the hassle of visiting bank premises for issue of drafts, and later to Government offices to deposit the instrument for availing services.

“It also helps avoidable delays and remittance of these instruments into Government account as well as eliminate undesirable practices in the delayed deposit of these instruments into bank accounts,” a finance ministry statement said.

The online payments can be made by using either a credit card, a debit card or through net banking.

For 2015-16 fiscal, Rs 1,00,651 crore has been budgeted from dividends. Of this Rs 36,174 crore is estimated to come from CPSEs and Rs 64,477 crore from banks, financial institutions and RBI.

The ministry has already received a dividend of Rs 65,896 crore from RBI.

Source: Financial Express