Economy

Net direct tax revenue rose 68% till November 23: MoS

The net direct tax collection grew almost 68% during the April 1-November 23 period to more than ₹6.92 lakh crore, Minister of State for Finance Pankaj Chaudhary said on Monday.

“The Net Direct Tax Collection figures for the FY- 2021-22 as on 23.11.2021 are at ₹6,92,833.6 crores showing a growth of 67.93% and 27.29% over the net collection figures for the corresponding period FY2020-21 and FY 2019-20,” he said in a written reply in the Lok Sabha.

The net collection between April 1 - November 23 in 2020-21 and 2019-20 fiscals was more than ₹4.12 lakh crore and over ₹5.44 lakh crore, respectively.

The gross direct tax collection (before adjusting refunds) as of November 23 stood at more than ₹8.15 lakh crore, a 48.11% growth over collections a year earlier. Mr. Chaudhary further said gross GST collection in the current fiscal (April 2021-March’22) post COVID-19 outbreak is showing an increasing trend.

Gross GST collection for the year ended March 2021 was more than ₹11.36 lakh crore, while the same in the current fiscal till October stood at ₹8.10 lakh crore.

In reply to a question on whether incidents of tax evasion are increasing in Delhi and other parts of the country, he said there was no evidence to suggest the trend.

“In terms of cases detected under Goods & Service Tax (GST) and Customs, there is no increasing trend in such evasion noticed in Delhi; although, there is overall increase in detection of GST and Customs evasion cases in the country,” Mr. Chaudhary added.


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Printable version | Jan 19, 2022 5:04:12 PM | https://www.thehindu.com/business/Economy/net-direct-tax-revenue-rose-68-till-november-23-mos/article37759905.ece

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