Friday , April 20 2018

Telangana contributes 5 per cent to country’s GST kitty

34,000 of 2.05 lakh listed traders have filed GST.

GST

Hyderabad: Telangana state has subsidized almost five percent to the nation’s GST kitty when the limit to file first tax returns below the new tax command ended on Monday.

Read More: GST drives Ganesh idol prices up in Telangana

Though the Goods Service Tax collected from the whole country for the month of July was Rs 65,000 crore, Telangana State backed Rs 3,200 crore in the deadline. Remarkably, the GST was waged by only 34,000 traders whereas the overall number of GST-registered dealers is 2.05 lakh.

Principal Secretary, commercial taxes section, Somesh Kumar, stated that though there are about 2.05 lakh Goods Service Tax listed traders in the state; merely 34,236 traders are major agents, who account for 99.05 percent of the overall taxes collected.

“Even through the former VAT command, the trend was similar. Around 32,000 agents out of 1.90 lakh VAT listed traders used to add 95 percent of the full taxes collected.

In the Goods Service Tax command, over 34,000 traders have trailed their first returns, which displays that there is no reduction in tax collection in the GST command,” Mr. Kumar said.

He stated out of the overall amount of the Goods Service Tax collected, the Central Government had got Rs 444 crores through numerous cases. Though Rs 781 crore was collected below SGST, Rs 878 crore was gained under IGST.

Extra Rs 505 crore was collected below CGST. Mr. Kumar stated the state will get a part in IGST, which will be credited to the account of the Telangana state government later.

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