Compliance Performance
Jammu and Kashmir State (Upto 30-Oct-2019)

Report No.6 of 2016 - Revenue Sector and Public Sector Undertakings Government of Jammu and Kashmir

Date on which Report Tabled:
Tue 04 Jul, 2017
Date of sending the report to Government
Government Type
State
Sector Finance,General Sector Ministries and Constitutional Bodies

Overview

This Report is in two parts. The part-A of the Report comprises of seven paragraphs relating to short levy of VAT, Toll tax and Arrears of revenue, involving revenue implication of `124.10 crore. The part-B contains one Performance Audit on ‘Jammu and Kashmir State Power Development Corporation Limited’ and six paragraphs with financial implication effect of `2,346.68 crore relating to doubtful recovery of loan, loss of revenue, non-recovery of interest, avoidable loss, idle investment not meeting statutory obligations and avoidable payment of rent, etc. Some of the major findings are mentioned below:

The total revenue receipts of the State Government for the year 2015-16 was `35,780.60 crore as compared to `28,938.59 crore during the year 2014-15 i.e. an increase of `6,842.01 crore. 31 per cent was raised through tax revenue (`7,326.19 crore) and non-tax revenue (`3,912.79 crore). The balance 69 per cent was received from the Government of India as State’s share of divisible Union taxes and duties (`7,813.48 crore) and Grants-in-aid (`16,728.14 crore)

Irregular grant of remission of tax to two dealers by the Assessing Authorities resulted in short levy of tax and interest of `2.96 crore

 

The State had 30 working PSUs (27 Companies and three Statutory Corporations) and three non-working PSUs which employed 23,876 employees. The investment has grown by 56.90 per cent from `4,907.42 crore in 2011-12 to `7,699.94 crore in 2015-16

 Lack of due diligence in Jammu and Kashmir Bank Limited in verification of genuineness of security before release of loans and credit facilities resulted in recovery of `3.22 crore being rendered doubtful

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