Andhra Pradesh: Rs 41,124 crore from commercial taxes targeted

VIJAYAWADA:The State government is projecting to generate Rs 41,124 crore towards commercial taxes in the 2018-19 fiscal. While the target was fixed at Rs 37,128.20 crore in the 2017-18 fiscal, the government slightly increased the target by 10.70 per cent in the coming fiscal. As against the Rs 5,800 crore target from the Prohibition and Excise Department in the current fiscal, the government enhanced it to Rs 6,206 crore for the coming fiscal.

While Rs 19,932 crore kept as target on VAT, CST, GST, Rs 10,800 crore is targeted from petroleum products. Though the growth rate in the current fiscal on VAT, CST and GST stood at 17.24 percent in the 2017-18 fiscal, the growth rate on the same in 2018-19 projected only at 13.27 per cent.

Despite there was a demand from the petroleum dealers to slash the taxes being imposed the State on fuel, the government is targeting to generate Rs 10,800 crore from petroleum products as against Rs 9,826.74 crore this fiscal. An official of the Revenue Department told TNIE that they have made revenue projections based on the targets achieved so far in the current fiscal.

Against Rs 40,513.85 crore targeted through Commercial Taxes in 2017-18, a revenue of Rs 30,825.22 crore has been achieved by the end of January and the officials are of the view that they may lag behind in reaching the target in the coming two months. However, they are confident of achieving the targets more or less from Departments of Prohibition and Excise and Registration and Stamps.

Stating that Rs 4,923.24 crore has been generated against the annual target of Rs 5,886.38 crore on Excise Department by the end of January, officials say that achieving the remaining Rs 950 crore ill not be a herculean task in the coming two months. What came as a surprise to the officials was that the revenue through registration and stamps almost matching the target. Officials thought demonetisation coupled with the GST will have an adverse impact on the Registration department. But, it generated Rs 2,951.65 crore by the end of January against the target of Rs  3,398.58 crore.