Commercial Tax Department is Working to Bring Business Revenue

Telangana-State-eyes-traderHyderabad: It bid to increase revenue inflow in the state commercial tax department is working to bring in the business revenue with the traders beyond Rs 50 lakh in the tax net, so that they can impose VAT.
They plan to push through by increasing the compliance of traders who have been showing “Zero business” but internal examinations by the department showed otherwise.
“Many traders who need to report their business transactions have not recorded their sales with the department .When asked they said there was no business.However,our internal verification with the other government departments including GHMC
“Many traders who need to report their business transactions have not recorded their sales with the department. When asked they said there was no business. However, our internal verification with the other government departments including GHMC, electricity department and others which make large scale purchases from the Troop Bazaar and other traditional market for electricity, sanitary goods were not reported to the department. Nor, did they include them in their register,”
The official added, “We held a series of meetings with the traders of various business to increase the compliance or else raids and random checks would be unavoidable. Traders were given about three months time to increase the compliance.”

Medaram Jathara

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