Economy

Net direct tax collection dips 31% in April-August

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The net direct tax collection during April-August declined 31% to ₹1.92 lakh crore compared with the same period of the last fiscal.

The net indirect tax collection during the five-month period till August fell 11% year-on-year to ₹3.42 lakh crore.

In a written reply to the Lok Sabha, Minister of State for Finance Anurag Singh Thakur said net direct tax collection was ₹2,79,711 crore in April-August 2019, compared with ₹1,92,718 crore in April-August 2020.

The net indirect tax collection in April-August 2019 was ₹3,85,949 crore, as against ₹3,42,591 crore in April-August 2020.

‘Wide gap’

In the period under review, the Centre’s Goods and Services Tax (GST) collection stood at more than ₹1.81 lakh crore. The Budget had estimated Centre’s GST collection for the full fiscal year at ₹6,90,500 crore.

In 2019-20, the Centre’s actual GST revenue stood at ₹5,98,825 crore, against the revised estimate of ₹6,12,327 crore.

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Printable version | Oct 22, 2020 3:47:10 AM | https://www.thehindu.com/business/Economy/net-direct-tax-collection-dips-31-in-april-august/article32650644.ece

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