Net direct tax collections rise 23 per cent this fiscal
Sep 18, 2023
New Delhi [India], September 18 : A total of Rs 865,117 crore worth of direct taxes have been collected so far in the current financial year 2023-24, representing a 23 per cent increase on a yearly basis, Central Board of Direct Taxes said on Monday.
In the same period last year, the total mop-up was worth Rs 700,416 crore (in net terms). The net direct tax collections include Corporation Tax, Personal Income Tax, and Securities Transaction Tax.
In gross terms, CBDT said the provisional figures showed direct raxes (before adjusting for refunds) so far in 2023-24 stood at Rs 987,061 crore, compared to Rs 8,34,469 crore last year, showing a growth of 18.29 per cent.
Over the last few years, various efforts have been made to increase the tax base and improve compliance.
In the entire financial year 2022-23, the total gross GST collection stood at Rs 18.10 lakh crore and the average gross monthly collection for the full year is Rs 1.51 lakh crore. The gross revenues in 2022-23 were 22 per cent higher on a yearly basis.
Notably, in April this year, the gross GST collection was at an all-time high of Rs 187,035 crore.
