Hyderabad, May 17, 2024 – Telangana Chief Minister A. Revanth Reddy on Thursday directed all revenue-generating departments to work in coordination to increase the state’s revenue. He urged officials to set monthly targets to achieve the annual revenue goals for 2024-2025.
In a stern message, the Chief Minister warned that strict action would be taken against those evading tax payments and pledged to tackle corruption and irregularities in tax collection firmly.
During a review meeting, CM Reddy asked officials to prepare an action plan to boost tax revenue, meet the annual targets, and introduce necessary reforms in tax collection. He emphasized the importance of identifying and addressing loopholes within revenue-generating departments.
Accompanied by Ministers Ponguleti Srinivasa Reddy and Jupalli Krishna Rao, CM Reddy held a meeting with officials from the Commercial Taxes, Stamps and Registration, Excise, and Mining Departments at the B.R. Ambedkar Secretariat.
Expressing dissatisfaction over the failure to meet revenue targets in the previous financial year, he instructed officials to conduct monthly reviews on tax revenues and collections. The Chief Minister particularly highlighted the evasion of GST and called for stringent measures to curb it, noting GST as a significant revenue source for the state. Going forward, officials will conduct regular field inspections and audits to enhance GST collections.
CM Reddy urged traders to pay their GST promptly and warned tax evaders of strict consequences. He also questioned Excise officials for failing to meet revenue targets despite high liquor sales during the previous election season, instructing them to clamp down on liquor smugglers and tax evaders.
The meeting also addressed the issue of rising land and property prices in Hyderabad and other parts of the state. CM Reddy questioned why revenue from property registrations remained low despite these increases. Officials highlighted the disparity between the market value of land and actual sales prices, noting that the previous government had increased land market values and registration charges in 2021. However, significant differences between market values and selling prices persist.
According to regulations, the market value of land must be revised annually. The Chief Minister directed officials to take steps to update these values. He instructed the Stamps and Registration wing to employ a scientific method in determining market values for various types of land, including agricultural lands, vacant lands, plots, and apartments. He suggested that revising land market prices could boost the real estate and construction sectors while also increasing state revenue.
Additionally, CM Reddy recommended studying stamp duty practices in other states to decide whether to adjust Telangana’s stamp duty rates accordingly.
With these directives, Chief Minister Revanth Reddy aims to enhance the financial health of Telangana by ensuring efficient and fair tax collection and addressing systemic issues in revenue generation.
