T.N.’s Own Tax Revenue likely to be impacted by unprecedented floods

Tamil Nadu’s Own Tax Revenue, which accounts for over 70% of total revenue, is likely to be affected by the floods in Chennai and the Southern districts.

For 2023-24, the State’s Own Tax Revenue (SOTR) is projected to be ₹1,81,182 crore, as per the Budget estimates, which is a 20.61% growth from 2022-23. The SOTR accounts for 78.9% of Tamil Nadu’s total revenue. The key components of SOTR include collection from State Goods and Services Tax (SGST), taxes on vehicles, revenue from Stamps and Registration Fees, VAT on petrol and diesel and liquor, The State Excise Duties (which reflect liquor revenue).