Telangana’s growth in tax collection is unstoppable and it is the highest in the country. The State collected Rs 904 crore SGST (State Goods and Services Tax) in March 2018, a record of sorts after the implementation of GST from July 2017.The State collected Rs 853 crore SGST in January 2018. Surpassing this, in March 2018, the State collected Rs 904 crore. In fact, the SGST collections of neighboring AP ( Andhra Pradesh) are falling, whereas SGST collections in Telangana are going up.

“The growth rate of SGST collections in Telangana State is better than any other state in the country,” principal secretary of Commercial Taxes, Somesh Kumar, told on Wednesday.  The Integrated Goods and Services Tax (IGST) collections are recorded as Rs 799 crore in March in the TS.The growth rate in tax collections now is 20 %. Officials averred that the growth in tax revenue too would be good in coming months and the State would be able to maintain more than 20 % growth in revenue.

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Besides, the Commercial Taxes department also succeeded in collecting the dues of VAT (Value Added Tax) before the implementation of GST ( goods and service tax). The Commercial Taxes department issued notices traders who failed to pay the arrears. “We have realized Rs 564 crore arrears in March alone. Normally, the monthly collection of arrears will be around Rs 100 crore or so,” Somesh Kumar said. The Commercial Taxes department served notices to around 7,000 VAT defaulters in January to collect the arrears of Rs 708 crore.

High petrol price increasing revenue

Meanwhile, the constant hike of prices of petrol & diesel will also help the Telangana government to get more revenues every month. From March 29 to April 3, there has been a steady increase in petrol and diesel prices in Hyderabad. The hike in petrol price is 111 paise and the hike in diesel price is 114 paise from March 29 to April 3.

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Source: The New Indian Express