Telangana State, as Chief Minister K.Chandrasekhar Rao reiterated the other day at the ‘Pragathi Nivedana Sabha’, has been registering impressive revenue growth continuously and its revenue growth touched 20.72% till August this year over that of corresponding period in the last fiscal.
The revenue earned by the State under GST and also from petrol and liquor till August this fiscal was ₹18,520.72 crore, including ₹8,161.63 crore from petrol and liquor. Last year the revenue collection till August was ₹15,341.25 crore, including ₹6,448.93 crore from petrol and liquor.
For the month of August, 2018, State earned a total revenue of ₹3,676 crore, including State Goods and Service Tax (SGST), Integrated Goods and Service Tax (IGST) and others and Value Added Tax on petrol and liquor.
The VAT earned on petrol and liquor would solely go to the State. The State earned a total revenue of ₹2,661.26 crore in last August.
Of ₹3,676 revenue accrued to the State in August, ₹1,683.17 crore was from petrol and liquor alone. The revenue from petrol and liquor in August, 2017 was ₹1,248.29 crore. The SGST, IGST and other revenue in August this year is ₹1,993.02 crore as against ₹1,412.99 crore of August last year. Last August, the revenue collection pertained to the first month after introduction of GST from July 1, 2017. Thanks to the Commercial Tax Department’s efforts of enforcement, data analytics and surprise raids, the tax compliance has been increasing steadily and it reflected in the increased revenue for August. The new tax regime also stabilised now after overcoming initial hiccups and GST network issues over the last one year, sources said.