Net direct tax collection rose 24% to Rs 8.77 lakh crore in the current fiscal . This represents 61.79% of the full-year Budget Estimates (BE) of direct tax collection for 2022-23 .
NEW DELHI (New Delhi) — The net direct tax collection rose 24% to Rs 8.77 lakh crore in the current fiscal, according to the finance ministry.This represents 61.79% of the full-year Budget Estimates (BE) of direct tax collection for 2022-23 (April-March).As of November 30, net tax collection is up to Rs 8.77 lakh crore, up from 24.26% higher than the net tax collection for the same period last year, according to the ministry.For FY 2022-23, the collection account for 61.99% of Budget Estimates.
For direct taxes, a tax on company and individual income compensates for it.Tax collection is an indicator of economic activity in a country.The collection from the levy of GST on goods and services sold (GST) has halved to around Rs 1.45-1.50 lakh crore a month.Between April 1 and November 30, refunds totaling Rs 2.15 lakh crore were issued, an increase of about 67% over the previous year.