India’s net direct tax collection rises 13% to ₹12.12 trillion till Sept 17 | Economy & Policy News

The government’s net direct tax collection rose 13 per cent to over ₹12.12 trillion till September 17 of the current fiscal on higher advance tax mop-up, according to the latest data released on Friday.

Corporate tax mop-up grew 19.48 per cent to about ₹5.56 trillion, while non-corporate tax (individuals and HUFs) mop-up increased 6 per cent to over ₹6.16 trillion. Securities Transactions Tax (STT) collection grew 53 per cent to ₹40,214 crore between April 1 and September 17.

Refund issuance jumped 29.19 per cent to over ₹2.20 trillion till September 17, the data released by the Central Board of Direct Taxes (CBDT) showed.

Gross direct tax collection clocked a 15 per cent growth totalling over ₹14.32 trillion.

Advance Tax mop-up till September 17 increased 16.18 per cent to about ₹5.22 trillion. This included an 18 per cent growth in advance corporate tax payments at over ₹4.16 trillion, and a 9.24 per cent rise in non-corporate advance tax payments of ₹1.06 trillion.

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