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More traders opt for GST regime in Mahbubnagar district
Since the launch of Goods and Services Tax (GST) in July last year, the traders and business houses in Mahbubnagar have shown keen interests in enrolling in the GST regime.
Mahbubnagar: Since the launch of Goods and Services Tax (GST) in July last year, the traders and business houses in Mahbubnagar have shown keen interests in enrolling in the GST regime.
According to statistics available with the Central Excise Department, now called as GST Centres in Mahbubnagar, the number of persons, who enrolled in the GST regime in the district since July last year, went up from 5,714 to 8,981.
This clearly showed that more and more traders and business persons are enrolling in the newly introduced single taxation regime.
Earlier, prior to introduction of GST, both the State and Central governments were imposing Value Added Tax (VAT). In addition to this, taxes related to various other State governments and Central government were also imposed on the traders because of which traders were reluctant to get themselves registered with the Commercial Taxes Department. However, with the launch of GST, now the traders heaved a sigh of relief.
At present under the erstwhile Mahbubnagar district the Commercial Taxes Department is divided into three circles of Jadcherla, Gadwal and Mahbubnagar. Under Mahbubnagar circle the mandals of Makthal Narayanpet, Mahbubnagar, kodangal and other areas will come, while under Jadcherla circle the mandals of Nagarkurnool, Jadcherla, Shadnagar and Kalwakurthy, Achampet areas are included. Under the Gadwal circle the areas of Wanaparthy, Gadwal, Kottakota and other areas are included under the GST circles. Under the united Mahbubnagar district for the year 2016-17 financial years, the commercial tax department could earn revenue of Rs. 324 crores as taxes.
With more and number of traders getting enrolled into GST regimes in Mahbubnagar during the past 10 months the district has added 2636 more number of traders to its list. With this, compared to last year, the district has witnessed a rise of large number of new tax payers this year.
With the implementation of e-way bills the Commercial Taxes Department in the district are earning even more revenue. Any product which is more than Rs 50,000 in value is transported from one place to the other the trader concerned has to pay the e-way bill to the government.
With this, there will be no blockage for the transportation of goods and products across anywhere in the country. Krishna Reddy, Assistant Commissioner of Commercial Taxes in Mahbubnagar circle said that there is a lot of awareness among the traders on the GST regime.
