NEW DELHI: A complete of Rs 13.7 lakh crore value direct taxes (internet) have been collected to this point within the present monetary 12 months 2023-24, representing a 20.66 per cent improve on a yearly foundation, in keeping with provisional figures put out by the federal government on Monday.
The collections had been to the tune of Rs 11.3 lakh crore within the corresponding interval of the previous 12 months 2022-23.
The internet direct tax assortment of Rs 13.7 has been collected, together with company tax (CIT) at Rs 6.9 lakh crore (internet of refund) and private revenue tax (PIT) together with securities transaction tax (STT) at Rs 6,72,962 crore (internet of refund).
The provisional figures of gross assortment of direct taxes (earlier than adjusting for refunds) for the monetary 12 months 2023-24 stand at Rs 15.9 lakh crore in comparison with Rs 13.6 crore within the corresponding interval of the previous monetary 12 months, displaying a progress of 17.01 per cent over the collections of 2022-23, the ministry of finance mentioned.
Over the previous couple of years, numerous efforts have been made to extend the tax base and enhance compliance.
For instance, in the complete monetary 12 months 2022-23, the entire gross GST assortment stood at Rs 18.10 lakh crore and the typical gross month-to-month assortment for the complete 12 months was Rs 1.51 lakh crore. The gross revenues in 2022-23 had been 22 per cent larger on a yearly foundation.
Notably, in April this 12 months, the gross GST assortment was at an all-time excessive of Rs 187,035 crore.
The collections had been to the tune of Rs 11.3 lakh crore within the corresponding interval of the previous 12 months 2022-23.
The internet direct tax assortment of Rs 13.7 has been collected, together with company tax (CIT) at Rs 6.9 lakh crore (internet of refund) and private revenue tax (PIT) together with securities transaction tax (STT) at Rs 6,72,962 crore (internet of refund).
The provisional figures of gross assortment of direct taxes (earlier than adjusting for refunds) for the monetary 12 months 2023-24 stand at Rs 15.9 lakh crore in comparison with Rs 13.6 crore within the corresponding interval of the previous monetary 12 months, displaying a progress of 17.01 per cent over the collections of 2022-23, the ministry of finance mentioned.
Over the previous couple of years, numerous efforts have been made to extend the tax base and enhance compliance.
For instance, in the complete monetary 12 months 2022-23, the entire gross GST assortment stood at Rs 18.10 lakh crore and the typical gross month-to-month assortment for the complete 12 months was Rs 1.51 lakh crore. The gross revenues in 2022-23 had been 22 per cent larger on a yearly foundation.
Notably, in April this 12 months, the gross GST assortment was at an all-time excessive of Rs 187,035 crore.
