(MENAFN- IANS) Hyderabad, May 16 (IANS) Telangana Chief Minister A. Revanth Reddy on Thursday directed all revenue-generating departments to work in coordination to increase the state's revenues.
He asked officials to set monthly targets to achieve annual revenue targets for 2024-2025.
The Chief Minister warned that strict action will be taken against those evading tax payments. He also decided to deal firmly with corruption and irregularities in tax collection.
At a review meeting, the CM asked the officials to prepare an action plan to increase tax revenue achieve the targets in accordance with the annual target and introduce reforms in the tax collection.
The authorities have been asked to plug the loopholes in the revenue-generating wings.
Revanth Reddy, along with Ministers Ponguleti Srinivasa Reddy and Jupalli Krishna Rao, held a meeting with the officials of Commercial Taxes, Stamps and Registration, Excise, and Mining Departments at the B.R. Ambedkar Secretariat.
Expressing his displeasure over not achieving revenue targets in the previous financial year, he asked officials to hold a review on tax revenues and collections every month henceforth.
The CM discussed the evasion of the GST with the officials and suggested they take strict measures since the GST is one of the main revenue-generating sources for the state. From now onwards, the officials will organise regular field inspections and audit the tax collections to increase revenue from GST.
He appealed to the traders to pay GST timely and warned the tax evaders to pay honestly.
Revanth Reddy questioned the Excise officials for not achieving the revenue targets despite the liquor sales being high during the election season in the previous financial year. He ordered the officials to crack a whip against liquor smugglers and tax evaders.
He also discussed the increasing land and property prices in Hyderabad as well as in other parts of the state and questioned the low revenues generated through property registrations despite increased land prices. The officials brought to the notice of the CM the missing link between the land's market value and the actual prices during the sales.
They said that the previous government increased the land market value and registration charges in 2021, and that there is still a huge difference between the market value of land and the selling price in many places.
According to the rules, the market value of the land has to be revised every year and the Chief Minister ordered the officials to take steps to do so.
He ordered the Stamps and Registration wing to follow a scientific method in the finalisation of market values of land in different areas, agricultural lands, vacant lands, plots and apartments, suggesting that land market prices should be revised to promote the real estate and construction sector along with increasing revenue of the state. He also suggested a study of stamp duty which is being collected in other states to take a call on either increasing the duty or reducing it.
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