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Published on 21/09/2020 11:16:46 AM | Source: Dion Global Solutions Ltd

Net direct tax collection dips 31% in Apr-Aug

Posted in Economy News| #Economy #Tax

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The net direct tax collection during April-August was Rs 1.92 lakh crore, down 31 per cent over the same period of the last fiscal. The net indirect tax collection during the five-month period till August fell 11 per cent year-on-year to Rs 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 Rs 2,79,711 crore in April-August 2019, compared to Rs 1,92,718 crore in April-August 2020. The net indirect tax collection in April-August 2019 was Rs 3,85,949 crore, as against Rs 3,42,591 crore in April-August 2020. During April-August, the Centre's Goods and Services Tax (GST) collection stood at over Rs 1.81 lakh crore. The Budget had estimated Centre's GST collection for full fiscal at Rs 6,90,500 crore. In 2019-20, the Centre's actual GST revenue stood at Rs 5,98,825 crore, against the revised estimate of Rs 6,12,327 crore.