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| Photo Credit: Reuters
The net direct tax collection grew 24% to ₹8.77 lakh crore in the April-November of the current fiscal, the Finance Ministry said on December 12.
This represents 61.79% of the full-year Budget Estimates (BE) of direct tax collection for 2022-23 (April-March).
“Direct tax collection net of refund stands at Rs 8.77 lakh crore as of November 30, which is 24.26 per cent higher than the net collection for the corresponding period last year,” the ministry tweeted.
The collection accounts for 61.79 per cent of Budget Estimates for FY 2022-23.
The Budget estimated direct tax collection at ₹14.20 lakh crore this fiscal, higher than ₹14.10 lakh crore collected last fiscal (2021-22). Tax on corporate and individual income makes up for direct taxes.
The collection from the levy of tax on goods and services sold (GST) has flattened to around ₹1.45-1.50 lakh crore per month.
Refunds amounting to ₹2.15 lakh crore were issued between April 1 and November 30, which is about 67% higher than the last year.
