Commercial Taxes Minister Talasani Srinivas Yadav on Wednesday warned traders of stern action if they evaded proper payment of commercial taxes.
Speaking to media persons after assuming charge as the Minister for Commercial Taxes and Cinematography, Talasani said that all loopholes in the department would be plugged to improve the collection of taxes.
He also announced the setting up of a special task force to check tax evaders.
He said that efforts would also be made to have one-time settlements for cases pending in the courts.
He assured that the Commercial Taxes Department would not harass businessmen who regularly paid their taxes.
He admitted a decrease in the monthly collection of tax revenues by nearly Rs 20 crores. But he expressed confidence that the department would achieve its target of collecting of Rs 27,777 crores by March 2015. He said from June to November this year, the collections stood at Rs 14,008 crores.
He also announced that the Turnover Tax payers would be brought under the VAT regime.
He said that efforts would be made to bring back Rs 5,605 crores to Telangana, 41.68% of the CST compensation of Rs 13,447 crores till June 2014. (INN)