STOCK MARKET BSE NSE

Tax collections in TS to go up by 20 percent under GST: Etela

Finance Minister E Rajender held a review meeting with officials at Secretariat on Thursday on GST implementation in TS.

Published: 30th June 2017 02:33 AM  |   Last Updated: 30th June 2017 09:09 AM   |  A+A-

By Express News Service

HYDERABAD: The State government expects that Service Tax collections will increase by 20 percent under GST in the State. Currently, the Service Tax collections annually amount to Rs 7,000 crores. Finance Minister E Rajender held a review meeting with officials at Secretariat on Thursday on GST implementation in TS. He asked the traders and people not to get agitated over GST. 

Etela Rajender, Finance
minister


“Closely follow the implementation of the GST. Any anomalies will be rectified in due course as GST Council is a permanent body,” he said. Rajender said they wanted the Centre to reduce higher tax slabs on 35 items.

“The Centre obliged to our demands with regard to seven items. Another six were under consideration,” he added. The state was collecting Rs 16,500 crores VAT and Rs 12,500 crore Central Excise every year. There would be a difference of Rs 4,000 crores.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp