Boom in tax collections continue

12 Aug 2022

Business

New Delhi, Aug 12 (IANS) The boom in tax collections continue. On the back of solid GST numbers, the corporate tax collections in FY 2022-23 till July 31 registered a robust growth of 34 per cent over the corresponding period of FY 2021-22.

The corporate tax collections during FY 2021-22 at Rs 7.23 lakh crore registered a growth of over 58 per cent as compared to the tax collections of FY 2020-21.

Even when compared to collections of FY 2018-19 (pre-Covid period), the collections of FY 2021-22 were higher by over 9 per cent.

This indicates that the simplified tax regime with low rates and no exemptions has lived up to its promise.

--IANS arm/

(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)