{"id":8172,"date":"2024-06-14T03:29:57","date_gmt":"2024-06-14T03:29:57","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=8172"},"modified":"2024-06-14T03:29:57","modified_gmt":"2024-06-14T03:29:57","slug":"telangana-second-in-country-in-own-tax-income-gsdp-share","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/telangana-second-in-country-in-own-tax-income-gsdp-share\/","title":{"rendered":"Telangana second in country in own tax income GSDP share"},"content":{"rendered":"<p>At 8% own tax income share of Gross State Domestic Product (GSDP) for budget estimates for this fiscal,  is second only to UP (10.3%) in the country, according to the recent &#8216;State of Finance Report (2022-23)&#8217;.<\/p>\n<p>The two states are followed by Jharkhand (also 8%), Kerala (7.9%) and Haryana (7.5%). The <a href=\"https:\/\/exam.pscnotes.com\/average\">Average<\/a> GSDP-to-own-income ratio in the country is 6%.<\/p>\n<p>A higher ratio of own tax income to GSDP indicates that the state has a better ability to collect taxes from its economic activities.A variety of factors influence tax collection, including income level, economic structure, tax rate and tax administration, according to analysts.<\/p>\n<p>The report observed that the key sources of own tax revenue for states in 2022-23 is SGST (42%), sales tax\/VAT (23%), state excise duty (14%), stamp duty (11%), vehicle taxes (5%), and electricity taxes and duties (3%). For Telangana, SGST share is (2.7%), sales tax\/VAT (2.5%), excise duty (1.3%), stamp duty (1.2%) and other sources (0.4%).<\/p>\n<p>According to the report, the GST Council has been given authority to decide on rates for a significant portion of state&#8217;s own tax revenue.<\/p>\n<p>In 2022-23 fiscal, states have estimated that their own non-tax revenue will be about 1.3% of GSDP.The level of own non-tax revenue varies greatly across states.For instance, Odisha, Chhattisgarh and Jharkhand have estimated significantly higher non-tax revenue, primarily from mining royalties.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At 8% own tax income share of Gross State Domestic Product (GSDP) for budget estimates for this fiscal, is second only to UP (10.3%) in the country, according to the recent &#8216;State of Finance Report (2022-23)&#8217;. The two states are followed by Jharkhand (also 8%), Kerala (7.9%) and Haryana (7.5%). The Average GSDP-to-own-income ratio in &#8230; <a title=\"Telangana second in country in own tax income GSDP share\" class=\"read-more\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/telangana-second-in-country-in-own-tax-income-gsdp-share\/\" aria-label=\"Read more about Telangana second in country in own tax income GSDP share\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1097],"tags":[760],"class_list":["post-8172","post","type-post","status-publish","format-standard","hentry","category-telangana","tag-11-12-12-22"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Telangana second in country in own tax income GSDP share - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/2024\/06\/14\/telangana-second-in-country-in-own-tax-income-gsdp-share\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Telangana second in country in own tax income GSDP share\" \/>\n<meta property=\"og:description\" content=\"At 8% own tax income share of Gross State Domestic Product (GSDP) for budget estimates for this fiscal, is second only to UP (10.3%) in the country, according to the recent &#8216;State of Finance Report (2022-23)&#8217;. The two states are followed by Jharkhand (also 8%), Kerala (7.9%) and Haryana (7.5%). The Average GSDP-to-own-income ratio in ... 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The two states are followed by Jharkhand (also 8%), Kerala (7.9%) and Haryana (7.5%). The Average GSDP-to-own-income ratio in ... 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