Direct tax collection up 10.79%, indirect tax up 23.9% in April-January
"The figures for direct tax collections up to January, 2017 show that net collections are at Rs 5.82 lakh crore which is 10.79 per cent more than the net collections for the corresponding period last year," said the Finance Ministry in a statement.
The collection up to January 2017 indicates that 68.7 per cent of the annual budget target of direct taxes has been achieved, it said.
Refunds amounting to Rs 1.41 lakh crore have been issued during April-January, which is 41 per cent higher than the refunds issued during the corresponding period last year, it added.
On indirect tax collection, the Finance Ministry statement said: "The figures for indirect tax collections (central excise, service tax and customs) up to January 2017 show that net revenue collections are at Rs 7.03 lakh crore, which is 23.9 per cent more than the net collections for the corresponding period last year."
The collection up to January 2017 indicates that 82.8 per cent of the revised estimates of indirect taxes has been achieved, it said.
"As regards central excise, net tax collections stood at Rs 3.13 lakh crore during April-January, 2016-17 as compared to Rs 2.23 lakh crore during the corresponding period in the previous financial year, thereby registering a growth of 40.5 per cent," the statement said.
Net tax collections on account of service tax during April-January, 2016-17 stood at Rs 2.03 lakh crore as compared to Rs 1.66 lakh crore during the corresponding period in the previous financial year, thereby registering a growth of 22.0 per cent, it said.
Net tax collections on account of customs during April-January 2016-17 stood at Rs 1.86 lakh crore as compared to Rs 1.77 lakh crore during the same period in the previous financial year, thereby registering a growth of 4.7 per cent, it added.
--IANS
