Telangana registers 20% growth in tax revenue

State Collects Rs 42,076 crore in 2017-18 against Rs 34,235 crore in 2016-17 under VAT regime

By Author  |  Published: 6th Apr 2018  11:22 pm
Telangana

Hyderabad: Despite initial hiccups in switching over to Goods and Services Tax (GST) regime, Telangana collected a total Rs 42,076 crore and recorded 20 per cent growth in revenue collections for 2017-18 as compared to the last financial year.

The revenue collections under Value Added Tax (VAT) regime by the Commercial Taxes Department was registered at Rs 34,235 crore for 2016-17.

Interestingly, the State collected Rs 904 crore under State Goods and Services Tax (SGST) during March which is highest by any State in the country. Officials are confident that the growth in tax revenue would remain upswing over the next a few months, enabling the State to maintain a growth rate of 20 per cent in revenue.

Telangana

According to officials, liquor sales contributed the highest revenue collections amounting to Rs 10,543 crore, which was closely followed by tax collections of Rs 9,176 crore through sale of petrol, diesel and other fuels. Under VAT and other Acts, the Commercial Taxes Department collected a whopping Rs 9,114 crore. With regard to SGST, the State realised tax revenue of Rs 6,540 crore and income through IGST (Integrated GST) was Rs 6,534 crore even as GST compensation of Rs 169 crore was released by the Centre.

In a release, the Telangana Commercial Taxes Gazetted Officers Association on Friday highlighted contribution by the employees of the Commercial Taxes Department to ensure better revenue collections and outperforming other States in SGST collections. “We urge the government to boost the morale of employees and announce incentives like one month salary as was done recently for employees of Electricity and Revenue Departments for implementing uninterrupted power supply and land records purification programmes, respectively,” said the association president T Venkateswarlu.

The employees also urged the government to resolve long-pending demands promised including re-structuring the department and construction of own office buildings for better tax administration. They also urged the government to resolve issues pertaining to setting up IT infrastructure, take up promotions and also the implementation of an innovative employee welfare scheme.