Telangana likely to benefit from GST: K Chandrasekhar Rao

Meanwhile, representatives of cloth merchants' associations met Chief Minister K Chandrasekhar Rao and urged that he bring pressure on the Centre to exempt textiles from the GST, another release from the Chief Minister's office said.

k chandrasekhar rao news, gst news, india news, indian express news

Rao decided to hold a meeting with Commercial Tax Officers on the GST in the second week of July, the Chief Minister’s office said. (File/Photo)

Telangana is likely to make some gains after the GST rollout and it has nothing much to lose, Chief Minister K Chandrasekhar Rao said at Hyderabad on Monday. “Fundamentally, it appears that by the GST, the state has something (to) gain, not much to lose,” a release from his office quoted him as saying during a meeting with the state officials on the new tax regime. The officials pointed out that since petrol, diesel and excise have been exempted from the GST, it will have no adverse effect on 50 per cent of the state’s revenue. In the other 50 per cent, the government will get 50 per cent of the revenue back, the officials said.

Since the Centre has to give the state its share in the increased revenues, the allocation to the state in Centre’s funds will increase.

“On an average, the state will get about Rs 2,000 crore to Rs 3,000 crore more income every year,” the officials said.

Story continues below this ad

However, one has to wait for the third quarter in December to understand the impact of the GST, the officials told Rao.

The Chief Minister said measures should be taken up to ensure that small businessmen are not adversely affected by the GST.

He directed the officials to conduct conferences to raise awareness among traders and general people on the GST, the release added.

Rao decided to hold a meeting with Commercial Tax Officers on the GST in the second week of July, the Chief Minister’s office said.

Story continues below this ad

Meanwhile, representatives of cloth merchants’ associations met Rao and urged that he bring pressure on the Centre to exempt textiles from the GST, another release from the Chief Minister’s office said.

He assured them that he would take up the matter with Prime Minister Narendra Modi, it added.

Stay updated with the latest - Click here to follow us on Instagram

Top Stories

MoSPI Secretary Saurabh Garg interview, Saurabh Garg interview, MoSPI Secretary Saurabh Garg, Saurabh Garg, National Household Income Survey, NHIS, Indian express news, current affairs

Business 'First-ever household income survey to be toughest; awareness and anonymity key'

Not only has he delivered several great movies over the years, among which many were blockbusters, but he also played a key role in earning the Malayalam film industry nationwide attention.

Entertainment Malayalam cinema's most celebrated filmmaker's first movie earned 15 times its budget; romantic drama marked debut of Mohanlal

Rohit, at 38 and with 11,168 runs before boarding the flight to Australia was a certified 50-over colossus. (AP Photo)

Sports For Rohit Sharma, every game is like playing his first match and last match at the same time

I have said more than once already that it is my fervent hope that Prashant Kishor’s Jan Suraaj party somehow manages to win because he is not a ‘potted plant’ (political princeling) and has spent more than two years wandering about the villages of Bihar trying to understand what the people of our poorest state really need.

Opinion A dangerous election practice

Cyclone Montha: Schools closed, fishing activities suspended in Andhra, Odisha

India4 hr ago

A severe cyclonic storm, named Montha, is expected to make landfall along India's east coast between Odisha and Tamil Nadu on Tuesday. The Indian Meteorological Department has issued warnings for heavy rain and rough seas, with the potential for extremely heavy rain in certain areas.

View all shorts

Live Blog

Loading Taboola...