KCR: GST to benefit Telangana

Hyderabad, July 03: The Telangana Cheif Minister K Chandrashekhar Rao has been expressed about the Goods and service Taxes here on Monday.

While addressing the meeting here in Pragati Bhavan, he said that The GST will benefit to the State.

The KCR said that the Center has decided to implement a tax-exempt one per cent of those who have a turnover of up to Rs 75 lakh per annum, while the annual turnover of Rs 20 lakh per annum will not be taxed.

KCR further said that The GST has some positive aspects. People have not understood the actual GST, in order to bring the awareness on GST we will provide GST awareness to the public.

In the next month, 5,6,7 orders are scheduled to be held in 91 commercial circles.

KCR has ordered that to clarify the doubts on the GST, The Chief General Secretary, Finance Secretary, Commercial Taxes Secretary, Commissioner and other senior officials also go to the traders and Spread the awareness on GST.

Earlier, On June 29, Government is worried about the burden of GST over the state exchequer which will be to the tune of 20000 Crore. The state government's flagship programs like Mission Bhagiratha, Mission Kakatiya, irrigation projects and the 2BHK housing scheme are coming under the GST net now.

Currently, The CM and, Govt officials are in the wait and watch policies on the revenue impact of GST.