By SNV Sudhir
Vizag commercial taxes division has thousands of firms
registered in 8 circles coming under its limits. The top tax payers from the
public sector units like Rashtriya Ispat Nigam Ltd, Steel Authority of India
Ltd., Minerals & Metals Trading Corporation Ltd., and in private sector
Cairn Energy (India) (P) Ltd., which is the first off-shore well in the state,
Coromandel International Ltd, and Varun Motors (P) Ltd. The division has
supported with Visakhapatnam Port Trust and Gangavaram Port
which plays a major role in the business activities of the local trade and
business community.
There are around 400 new registrations of the firms that
also have operations in Hyderabad .
Only 80 firms have totally shifted to Vizag and most of them are small and
medium units in manufacturing and trading, which doesn’t offer much to the
revenue to the local office.
While the local commercial taxes department has collected
taxes worth Rs 1,294 crs, they are expecting the revenue to go up slightly by
10 to 20 percent. According to reports most firms in all the other sectors are
interested in investing in Vijayawada-Guntur cluster as it is expected to be
the new capital of Andhra Pradesh.
And there are no big names that are going to start
operations from the city. Ironically not even a single firm that can have a
major investment has shown interest in Vizag. There are reports that, big
companies like Mahindra, Sony, Tatas, Samsung have applied for RC at Vijyawada.
“We are not expecting
any sudden jump in the revenue. While there are some companies who has
operations in Hyderabad
also applied for RC at Vizag, 80 have totally decided to shift to Vizag and
applied for new licenses. We are expecting an increase of 10 percent revenue,”
said Commercial Taxes deputy commissioner, T Siva Sankara Rao.
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