Net direct tax collection rises by 41% to Rs 3.54 lakh crore in Q1FY23: Pankaj Chaudhary
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Minister of State for Finance Pankaj Chaudhary has said that net direct tax collection in the April-June quarter of the current fiscal (Q1FY23) rose by 41 per cent to Rs 3,54,569.74 crore. During the April-June period of 2021-22, the government had collected a net direct tax of Rs 2,50,881.08 crore.
Chaudhary has stated that at the same time, net indirect tax collection including Goods and Services Tax (GST) and custom duty increased by 9.4 per cent to Rs 3,44,056 crore as against Rs 3,14,476 crore in the first quarter of the previous fiscal (Q1FY22).
The minister said various factors like rapid economic recovery post-Covid, better compliances due to various measures taken by the government have contributed to this increase. He also said that no tax exemption has been granted to food items during the current financial year. He noted that several steps have been taken by GST Council to improve compliance including auto population of distance based on the PIN Code in the e-waybill and automatic calculation of interest in the GSTR 3B for the delay in payment of GST liability.
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