Telangana’s tax kitty swells 10 per cent
By : G. Ram Mohan
Update: 2024-09-04 14:53 GMT
Hyderabad: The Telangana commercial tax department collected Rs 6,050 crore in August, which is 10 per cent higher than Rs 5,498 crore in the corresponding month last year. This is an improvement over the single-digit growth rate recorded in the last few months of the current financial year.
Liquor brought in nearly 30 per cent more funds at Rs 1,312.08 crore, against Rs 1,075 crore in August 2023.
The state recorded a growth of seven per cent in GST revenues in August at Rs 17,664 crore (August 2023: Rs 1,198 crore). However, the state’s GST growth is lower than the national growth rate of 11 per cent.
Cash realisation improved to Rs 8,437 crore (August 2023: Rs 7,909 crore). This is an improvement from Rs 2 crore in cash revenue in July 2024 over the same month in 2023. The state received GST (SGST and IGST) of `3,800 crore. Petrol and professional tax contributed Rs 1,185 crore and Rs 70 crores respectively.
The better performance in collections was attributed to steps taken by the department. The department, it may be recalled, had spent time roping in small businesses which don’t fall under the tax net as their turnover is below the threshold of Rs 20 lakh. The department is developing software to free its staff from manual compilation of data.