HYDERABAD: Telangana State has registered 15 per cent growth in tax collection in 2018-19 compared to 2017-18. The revenue collections of the State continued to be impressive and the State government is expecting that the growth in revenue collections in 2019-20 will be 20 per cent more than last year. “We are expecting to collect around `55,000 crore in 2019-20,” official sources in Commercial Taxes department told Express on Wednesday.
In 2018-19 financial year, Goods and Services Tax (GST) collections were `45,379 crore, which is highest after the introduction of GST in the country. In 2017-18, the State government’s GST collections were `39,354 crore. Thus, the total revenue of the State in 2018-19 is 15 per cent more than 2017-18.
The revenue collections in the first month in 2019-20 financial year too registered an impressive 28.4 per cent than the revenue collections of April in 2018-19
Sources tell that Telangana was one among the fastest growing states in the country and was on the top in revenue collections, the main reason for it being internal reforms taken up by the department.
“We have plugged the loopholes, caught the tax evaders and ensured that they paid the taxes properly. Thus, Telangana stood top in revenue collections in the country. The State is not receiving any GST compensation from the Central government,” the officials said.
Meanwhile, official sources hinted that there would be a marginal increase in liquor prices in the State very soon. Prices of cheaper brands may not increase, but, those of premium brands would be increased marginally.