Govt Collects Direct Tax of Rs 6 L Cr Till Oct

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.

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.

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