The net direct tax collection till October is at Rs 6 lakh crore. The monthly GST is around Rs 1.15 lakh crore; the centre’s tax collection will surpass budget estimates this financial year, Revenue Secretary Tarun Bajaj said. “Even after refunds, we have reached about Rs 6 lakh crore collections till October indirect taxes, and It is looking good. Hopefully, we can exceed it. We have provided a relief in taxes in petrol, diesel and edible oil, but I think we can exceed the budgeted estimates on both direct and indirect taxes,” Bajaj said.
- Cabinet approves Rs 6,839 crore for Vibrant Villages Programme-II to boost border development
- ChatGPT Can Create Fake Aadhaar, PAN Cards—But Here’s Why It’s Not a Big Concern
- China to impose 34% additional tariff on all US goods from 10th April
- Rs 18,658 Crore Rail Network Boost to Strengthen Connectivity Across Three States
- Aerem Secures Rs 100 Crore Through Series A
The government has predicted a 9.5 per cent growth in tax collections at Rs 22.2 lakh crore for FY21 to FY22. Revenues from direct taxes stand at Rs 11 lakh, including Rs 5.47 lakh crore from corporate tax and Rs 5.61 lakh crore from income tax. “The revenues are looking good; GST revenues are also good. We touched Rs 1.30 lakh crore in October. This month, I think we can get a good GST number,” he added.
