CENTRAL TAX REVENUES WHICH HAVE INCREASED HEAVILY IN AP

Vijayawada, March 8, (way2newstv.in):

A total of Rs 84,9.68 crore has been estimated to be adjusted for central taxes for 2018-19. The revised estimate for the 2017-18 budget estimate for central goods and services tax is Rs 4003.13 crore, while the current year 2018-19 has been raised to 109919.11 crores. Compared to the revised estimates to the state through Integrated Goods Services Tax (IGST), the rate of growth in the year 2018-19 has reduced to Rs 904.05 crore from Rs 2927.31 crore in the previous year. Tax collections increased by 6.7 percent compared to last year.

 CENTRAL TAX REVENUES WHICH HAVE INCREASED HEAVILY IN AP

The tax collection was up by Rs 8879.73 crore over the last year's revised estimate of Rs. Taxes on corporation tax and other revenues are also promising. In the 2016-17 estimates, Rs 5847.52 crore and 2017-18 budget estimates were Rs 7,504.42 crore compared to the same period this year. Excluding corporation tax in terms of revised Budget estimates of 2017-18, tax collection on other income has been estimated at Rs 7498.31 crore and 2018-19 per annum at Rs 8430.37 crores. Last year, the revised estimates were Rs 415 crore and reduced to Rs 400 crore in the 2018-19 economic year. The tax on wealth is desperate. The government's revenue from customs duty is estimated at Rs 1671.58 crore. The revenue earned by Central Excise Duty has also been reduced in the current year, compared to last year. According to the revised Budget Estimates of 2017-18, customs excise duty is estimated at Rs 2213.66 crore and in the year 2018-19, only Rs 1628.92 crore has been estimated. The value of taxes on revenue and expenditure was estimated at Rs 29415.93 crore in last year's assessment, as estimated at Rs 34329.85 crore in the 2018-19 budget.