From April 1, 2022 to March 10, 2023, the net collection of direct taxes in India has risen to Rs 13.73 lakh crore, which is up 17% in percentage terms, the Central Board of Direct Taxes reported on Saturday. This is 83% of the revised full-year target.
According to the CBDT, refunds amounting to Rs 2.95 lakh crore have been issued during this period, which is 59.44% higher than the refunds issued in the same period last year. Direct tax collections, net refunds amounted to Rs.
13.73 Lakh Crore, which is 16.78% more than the net collection of the same period last year. The collections made so far for fiscal year 2022-23 amount to 96.67% of the total budget estimate and 83.19% of the total revised direct tax estimate.
As for the growth rate of corporate income tax (CIT) and personal income tax (PIT) in terms of gross revenue collection, the growth rate for VAT is 18.08%, while for PIT (including STT) it is 27 is .57%.
After adjustment for refunds, the net increase in CIT collections is 13.62% and that of PIT is 20.73%. [पीआईटी केवल] or 20.06% [एसटीटी के साथ पीआईटी] Is.