AP Stood Tops In India Commercial Taxes Collections.
Andhra Pradesh has created history among all the states. Andhra is highest among all Indian state for the quarter ended in June 2016. The AP state earning a revenue of Rs 8,250 crore from commercial taxes. It’s all time record 23.6% increase in tax revenue.
[ads2] The increased prices of cigarettes and liquor have resulted in AP registering these stunning numbers and the state’s treasury has witnessed a huge growth in all revenue sectors. However, AP continues to lag behind other states in the revenue collection in major PSUs and petro products.
Andhra Pradesh earned Rs 173 crore from tax on cigarettes, Rs 2,040 crore on liquor, Rs 2,208.83 crore from petroleum products and a meagre Rs 41.40 crore from major public sector undertakings. The state earned Rs 7812.70 crore from VAT and CST and other forms of taxes further grossed Rs 437.3 crore more.
Vijayawada Stood first in the tax collections earned Rs 1,297.31 crore, while Visakhapatnam and Kurnool followed with Rs 430.56 crore and Rs 247 crore respectively. In a much positive trend for the growth of business sector in Andhra Pradesh,most companies that shifted base from Hyderabad to the state’s capital have witnessed dramatic growth in sales during the 1st quarter in the current fiscal.