DMK-ruled Tamil Nadu and Left-ruled Kerala have lodged their objection over the 'one nation-one registration' proposal. Twitter
Hyderabad: Telangana is all set to join the states opposing the Centre's "one nation-one registration" initiative. Union finance minister Nirmala Sitharaman had announced plans to roll out this initiative in the Union Budget 2022-23.
Chief Minister Chandrashekar Rao would write to Prime Minister Narendra Modi, opposing the Centre's move and seeking withdrawal of the ‘one nation-one registration' plan.
Sources in TRS said the CM strongly feels that the 'one nation-one registration' move would curtail the powers of states. He noted that the earnings through stamps and registrations remained as the major revenue source for state governments.
State governments now have power to decide stamp duties and registration charges. The Telangana government enhanced registration charges and stamp duties in July 2021 and enhanced the market value of lands twice within a year -- in July 2021 and recently on February 1.
The state government fears loss of revenue if the Centre takes over powers of states on registration charges and stamp duties.
After the implementation of GST from July 2017, states already lost their power to impose sales tax/ VAT on several products barring fuel and alcohol. States are now waiting for the Centre to reimburse their tax share after GST collections and many states complain of losing their revenue collections after GST came into force.
The Telangana government earns nearly Rs 12,000 crore per year through registrations and stamp duties. This is expected to increase to Rs 15,000 crore with the enhancement of registration charges, stamp duty and market value of lands, apartments etc.
DMK-ruled Tamil Nadu and Left-ruled Kerala have lodged their objection over the 'one nation-one registration' proposal.
The TRS-led government in Telangana is already engaged in a political slugfest with the BJP-led government at the Centre, accusing it of curtailing
the powers of states in the name of power reforms, farm laws etc. It is not willing to lose its powers on stamps and registrations, lands and properties to the Centre in the name of 'one nation-one registration', official sources said.