Andhra Pradesh

Andhra Pradesh: APIIC’s tax collection in July stands at ₹40 crore

The A.P. Industrial Infrastructure Corporation Limited (APIIC) collected property tax amounting to ₹40 crore, including ₹35 crore paid online, in July 2022 which according to an official release is the highest-ever tax garnered in a month in its history.

It is due to the 5% discount offered on one-time tax payments made before July 31. A special drive undertaken from June 27 to July 31 evoked tremendous response from industrialists, the APIIC release said.

Out of 15 zones, Visakhapatnam special zone stood on top with a tax collection of ₹13 crore followed by Tirupati with ₹8 crore and Visakhapatnam regular zone with ₹7 crore. Kakinada, Vijayawada and Srikakulam zones had a tax collection of ₹2 crore each.

Earlier, the APIIC’s average tax collection was about ₹70 crore per year whereas it was a sort of windfall in July.

APIIC zonal managers who made the record tax mop-up possible will be felicitated by chairman Mettu Govinda Reddy on August 15. APIIC Vice-Chairman and MD J.V.N. Subramanyam congratulated the officers on their achievement.

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Printable version | Sep 19, 2022 5:04:40 am |