Andhra Pradesh

Andhra Pradesh surpasses revenue targets in first half of current fiscal

Representational image only.   | Photo Credit: artisteer

Andhra Pradesh has surpassed its targets for the first half of the financial year 2021-22 (April to September 2021) in revenue collections.

According to information, the State government set a target of about ₹21,400 crore revenue collections for the first half of the current financial year. The revenue collections includes the Goods and Services Tax (GST), petroleum products, liquor and professional tax. The collections stood at about ₹26,100 crore. The government achieved a revenue of ₹14,977 crore during the first half of the financial year 2020-21. Similarly, more than ₹21,900 crore revenue was collected during the financial year 2019-20.

Also read | State registers 14% growth in GST revenue during October

The government, however, fell short in revenue collections vis-a-vis target set for October 2021 (current fiscal). While, the target was ₹6,234.80 crore, the achievement is ₹5,877.92 crore. In comparison, the revenue collections in October 2020 and October 2019 were ₹4,792.35 crore and ₹3,014.49 crore respectively, official sources say.

The Commercial Taxes (CT) Department officials say that the target for the GST revenue was ₹12,700 crore. The achievement stood at ₹14,660 crore during the current fiscal. The GST revenue from April to September in 2020 was ₹8,855 crore. Likewise, the GST revenue in first half of the fiscal 2019-20 was about ₹10,910 crore.

“The department registered a growth of 61.92% over 2020-21 financial year up to October 2021,” the officials say.

In August, the government has given additional targets to the CT Department for the current financial year. The budget estimates for GST and VAT were ₹55,535 crore. Now, the government has set an additional target of ₹1,500 crore to these heads. Similarly, an additional target of ₹200 crore was added to the professional tax budget estimates of ₹400 crore. “We are working on the additional targets as well,” they say.

The CT officials say that the tax compliance is significantly high in Andhra Pradesh compared to other States. To improve the collections, the department had to take a few measures such as conducting surprise checks, identifying the defaulters, and making them fall in line, they add.

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Printable version | Jan 24, 2022 5:24:03 PM |

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