Telangana registered a significant tax collection of Rs 42,054 crores in the first year of the GST regime. This was about 20% more than the Rs 35,232 crores collected during 2016-17. And from April to June-end in the current fiscal, the state has already collected Rs 10,879 crores.
These figures were given by Commercial Taxes Principal Secretary Somesh Kumar.
Despite some hiccups about 1.5 lakh new businessmen came under the tax net this year due to the GST, and that led to the increase in tax collection, Kumar said.
He added that more businessmen would be covered by the GST soon.
In addition to the higher tax collections, the Telangana government had also saved Rs 6,000 crores after the GST regime started as the Centre had reduced the tax rates from 18% to 12% and from 12% to 5% for flagship programs including the two-bedroom housing scheme and irrigation projects, Kumar said.