Hyderabad: Citizens will soon have to pay more to register their land as the government of Andhra Pradesh is planning to hike the costs of registration of their current four percent. However, the new position is not finalized yet.
In an attempt to mobilize resources, the government of AP is also planning to hike stamp duty on the facts of memories and works of settlement, which is one percent each now. Even the tax rate on the conversion of farmland to commercial rose.
Sources said Finance Minister Yanamala Ramakrishnudu held a meeting with senior officials of the revenue department of revenue, which decided that the government of AP can increase the costs of registration.
Government policy is to collect from the rich to help the poor. Land transactions are made especially for the rich as the value of land has increased tremendously after the announcement of the capital city. The increase in registration fees will not affect the middle class and the poor. This was what officials and ministers discussed, sources said.
The minister also wanted to raise taxes on liquor and beer without allowing affect consumers.
However, officials said it may not be possible, since the tax increase ultimately pass on to consumers.
The minister also proposed to provide solution scheme once expected to collect Rs 1,000 crore tax from various sectors. Another month will be given to affected traders Hudhud three districts pay their business tax.
"The general collection of all departments in July, August and September revenue is 88 per cent against a target of 100 percent. The minister asked the officials to improve performance," sources said.