Hyderabad: GHMC is getting ready to impose a new tax on the citizens of Hyderabad under the pretext of developing the city. This will not be named as ‘tax’ but it will be called ‘City Development Fund’.
This step is being taken following the guidelines suggested by TS Finance Commission.
It is reported that GHMC is contemplating to impose this tax on hotels, restaurants, commercial establishments, petrol bunks and other institutions.
The officials of GHMC informed that at present, the corporation is receiving Rs. 200 crore as property tax from the residential complexes and Rs. 1200 crore from commercial establishments. It also receives Rs. 56 crore for giving trade licenses.
It is learnt from authentic sources that CM of TS, Mr. KCR has instructed GHMC officials to pool up resources for their new projects. GHMC also proposes to enhance entertainment tax, professional tax and motor vehicle tax, etc.