Telangana government to get Rs 3,000 crore more from GST
The Chief Minister reviewed the impact of GST on the state's revenue with senior officials at Pragathi Bhavan on Monday.
Hyderabad: Chief Minister K. Chandrasekhar Rao said that the new Goods & Services Tax (GST) would bring in an additional revenue of Rs 3,000 crore a year to Telangana. But he qualified his statement by saying the exact impact of GST would be known in December after assessing the revenue earnings in the third quarter.
Interestingly, finance minister Etala Rajendar, who attended the GST launch programme in New Delhi on June 30, had stated that the TS government would lose up to Rs 4,500 crore on account of GST. The Chief Minister reviewed the impact of GST on the state’s revenue with senior officials at Pragathi Bhavan on Monday.
Officials informed him that since petroleum products and liquor were exempted from the GST, the new tax structure will not have any impact on 50 per cent of the state’s revenues, and for the other 50 per cent, the state will get 50 per cent share back from the Centre.
