Telangana’s Revenue Collection Picks Pace in Oct.

 Hyderabad: Telangana collected Rs 6,247.43 crore revenue in October. compared to Rs 5757.38 crore in the year-ago period, registering an eight per cent growth. The state’s revenue growth is in line with the national revenue growth, which witnessed an 8.9 per cent growth at Rs 1,87,346 crore.

However, the state’s revenue growth was muted compared to other states like Kerala (20 per cent growth), Gujarat (17), West Bengal (15), Bihar (14), Andhra Pradesh (12), Rajasthan, Odisha and Madhya Pradesh (10) and Karnataka’s nine per cent.

The country’s GST revenues grew 10.63 per cent.

The pre-settlement of SGST for October was Rs 12,089 crore, up six per cent from Rs 11,377 crore in the year-ago period. The post-settlement SGST grew by eight per cent from Rs 23,478 crore last year to Rs 25,306 crore in October.

The post settlement figures are arrived at after including IGST, a destination tax where the tax travels along with the goods and services and is accrued to the state where it is consumed.

The State VAT (value added tax) income, which comes from petrol sales, stood at Rs 1,098.41 crore, liquor Rs 1,428.19 crore, GST Rs 3,664.26 crore and professional tax Rs 58.63 crores. This was Rs 840 crore less than the target set by the government. The officials are expecting a turnaround in the following months with a course correction that is currently underway.