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VIJAYAWADA: Andhra Pradesh minister for commercial taxes Konathala Ramakrishna said that there has been a considerable growth in the revenue of commercial taxes in recent years.

The growth in revenue is proving to be the major sources of funding for the government's irrigation project, Ramakrishna said on the sidelines of a press conference here yesterday.

The total revenue from commercial taxes had reached a whopping Rs 25,000 crore figure now which has come as a boost to the government to implement its 'Jalayagnam', Ramakrishna said.

The growth rate in tax collections has gone up from 12 per cent to 25 per cent, he said. Stating that the new tax system of Goods and Services Tax (GST) would come from 2020, Ramakrishna said that the guidelines for it are being prepared and this would come in the place of the existing Value Added Tax (VAT).

Commercial taxes Additional Commissioners S S Rawat and G Lakshmi Prasad and other were also present in the occasion. – PTI

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