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Andhra Pradesh Tax


bob9

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Andhra surpasses its own expectations in Tax collections

 

Contrary to the apprehensions of officials, the new state of Andhra Pradesh has registered impressive tax revenue collections in its first month since bifurcation. The state, up until June 30, has earned as much as Rs 1,500 crore, which observers insist is indicative of AP's fiscal health being in 'sound condition'.

In Vijayawada Circle-I alone, for instance, the collection for this particular month has been a whopping Rs 215 crore, as against last year's Rs 75 crore. The exact revenue collection, however, will be known only on Monday, as Sunday (July 20) is the last date for filing returns for June.

Going by the collections, official sources are now expecting AP to earn an annual revenue of anywhere between Rs 30,000 crore and Rs 35,000 crore (from tax collections) during the current financial year. This predicted amount, they say, is higher than the income expected.

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