(Image source from: Deccanchronicle.com)
Post GST, Telangana's Revenue Collection Goes Up By 17%:- The implementation of GST completed a year recently and Telangana seems to have seen a huge rise in the commercial taxes collection. While it was Rs 35,232 crores during 2016-17, the revenue collection reached Rs 42,054 crores during 2017-18. This was an increase of 17.08% in the commercial taxes in the state. From April to June this year, Telangana already collected Rs 10,879 crores with a record of 18.5%.
Somesh Kumar, Principal Secretary of Commercial Taxes and Prohibition Excise informed that the share of commercial taxes in GDP during the last year increased by 7.66%. Somesh also revealed that there is no need for any compensation under GST for the state as per the current revenue trends. Telangana state is quite proud as it doesn't depend upon the Central Government compensation.Telangana State has successfully lobbied for reduction of tax rate from 18% to 12% and in some cases to 5% for construction and earth moving works.