The Indian government has met the tax collection target for 2023-24 of over Rs 34.37 lakh crore, driven by strong economic activity and improved compliance. Direct tax target was set at Rs 19.45 lakh crore, while GST collections hit record highs. India s robust growth projected at 7.6%-8%.
This collection is 80.23% of the total Revised Estimates of Direct Taxes for FY24. Refunds amounting to Rs 2.77 lakh crore have been issued during 1st April, 2023 to 10th February, 2024.