There is a marked 20% increase in the tax rate collections in Telangana district of Hyderabad. The state collected a total of Rs. 42,076 crore in 2017-18 under the Goods and Services Tax (GST) as against Rs. 34, 235 crore collected in 2016-17 under the VAT regime. Rs. 6,540 crore has been collected as State Goods and Services Tax (SGST) and Income through IGST (Integrated GST) amounts to Rs. 6,534 crore.
Tax collections for the month of March in Telangana district of Hyderabad have been recorded the highest in the country. The state collected a total of Rs. 904 crore in March, 2018 as State Goods and Services Tax (SGST). The collections were reported to be Rs. 853 crore in January, 2018. The state also saw collections worth Rs. 799 crore in March as Integrated Goods & Services Tax (IGST) which is levied and collected by the inter-state supply of Goods and Services. Arrears on VAT (Value Added Tax) amounting to Rs. 564 crore have also been realised for the month of march.
The increase in tax revenues has been due to the initiatives taken by the Commercial Tax Department. The Commercial Tax department had issued notices to the VAT defaulters for the payment of arrears. It actively worked for the recovery of VAT arrears, appeal fees and deferment amounts that have been pending since long. The application of GST on goods and services according to the GST rate list has led to an increase in the revenue tax collections.
Steady increase in the prices of petrol and diesel are likely to help the state government to generate more revenues every month. The hike in petrol and diesel prices from March 29 to April 3 is seen to be 111 paise and 114 paise respectively.
The percentage of tax revenue is expected to increase in the coming months under the GST regime.
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