bengaluru chief minister siddaramaiah had predicted a rs 3000 crore loss to the state exchequer after the centres demonetization shocker on november 8 2016 however revenuegenerating departments have performed well in the past couple of months with sales tax collection showing a 2124 yearonyear increase in novemberit was estimated that demonetization would have a deep negative impact on revenue collection however official figures belie the fears the collection has exceeded the budget expectations said a senior official from the finance departmentcontrary to the anticipation that sales tax collection a major source of revenue would bear the brunt of the impact the commercial taxes department has been among the high performers in november 2106 the department racked up rs 4521 crore through value added tax vat 2124 higher than the november 2015 figure the vat collection in october 2016 stood at rs 417616 crorethe first three weeks of january vat fetched the department rs 451658 crore as against rs 419493 crore collected during the enitre month of january in 2016 for december 2016 the figure was rs 425229 crore representing a 1624 yearonyear growthwith the sales tax collection target for 201617 was set at rs 51338 crore the commercial taxes department collected rs 4322858 crore till january 24 2017 experts expect a much better performance in february and march as the fiscal year endsusually revenue collection peaks in the last quarter of any fiscal year sales tax revenue should exceed the budget estimation said bt manohar taxation committee chairman federation of karnataka chambers of commerce and industry fkccithe excise department which had set a target of rs 1400 crore for november 2016 mobilized rs 139283 crore in revenue a 1589 increase from the previous year as against the annual target of rs 16510 crore the department collected rs 1212189 crore till december 31 2016motor vehicle tax mvt revenue stood at rs 378145 crore till december 31 2016 the annual target was rs 5160 crore however the revenue from property registration dipped with the monthly average standing at rs 656 crore as against the expected rs 750 crore box experts credit it to fuel price hiketrade analysts attribute the positive growth in vat collection to the increase in petrol and diesel prices fuel prices were hiked thrice after demonetization and since taxation is ad valorem the increase has resulted in a windfall for the exchequer better compliance among traders is another reason for the spurt in tax collection government officials seem to agree with the analystswe are still analyzing the situation while the revenue figures are being assessed we think the hike in fuel prices may have helped however we are happy that revenue collection hasnt been affected to the extent we feared despite demonetization and drought said isn prasad additional chief secretary finance department officials from the finance and commercial taxes departments will meet on saturday to take stock of the revenue collectionsales tax revenue is realtime indicator of the cash flow the revenue fall in the stamps and registration