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The Telangana government has fixed a revenue target of ₹85,112 crore for the Commercial Taxes department for the current financial year.
This is 18% higher than the ₹72,295 crore achieved during the fiscal 2023-24 and ₹19,000 crore in the first quarter of the current fiscal. The department could achieve 91% of the ₹20,950 target set for it during the first quarter of the current fiscal.
The Commercial Taxes department was given a clear road map on achieving the set targets and these include strengthening the enforcement operations and utilising data analytics to identify potential dealers likely to indulge in fraudulent transactions.
The focus will be on preventing them from committing fraudulent transactions rather than trying to identify them after committing evasion of tax, according to the Outcome Budget 2024-25 of the department tabled in the assembly on Monday by Chief Minister A. Revanth Reddy who is holding the portfolio. The department would strengthen the IT infrastructure for improving operational efficiency and focus on early disposal of long pending cases in various legal forums for realising the revenue.
Strategies were being evolved for achieving higher growth rate through effective utilisation of technology and human resources besides steps were initiated to put in place face-less GST audits and assessments. The outlook budget said despite general economic slowdown in the country, Telangana was able to maintain a positive growth rate due to the State’s progressive policy, use of IT and data analytics.
The State received GST compensation of ₹2,263 crore in 2019-20, ₹5,483 crore in 2020-21, ₹6,576 crore in 2021-22, ₹4,062 crore in 2022-23 and ₹625 crore the next year. “For the year 2018-19, Telangana did not get any compensation,” the paper said. The Commercial Taxes department’s revenue increased significantly since the formation of the State from ₹22,867 crore in 2014-15 to ₹72,295 crore in 2023-24.
The tax base which was 2.18 lakh under VAT had significantly increased by 102% post introduction of the GST and the number of tax payers in the State presently was 5.25 lakh.
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