What’s in the news?
- According to the official data, the net direct tax collection grew almost 68% during the April 1-November 23 period to more than ₹6.92 lakh crore.
- 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.
- 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. 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.