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Direct tax collection exceeds revised estimate by 5% in FY21
April 09, 2021
The provisional figures show collection at ₹9.45 lakh crore.
Direct tax collection during FY 2020-21 has registered nearly 5 per cent growth over the revised estimate, Finance Ministry said on Friday.
Experts are optimistic about a lower fiscal deficit with improvement in indirect tax collection than the revised estimate.
Provisional figures show collection at ₹9.45 lakh crore. “The net Direct Tax collections represent 104.46 per cent of the Revised Estimates of ₹9.05 lakh crore of Direct Taxes for the FY 2020-21,” a Finance Ministry statement said. However, it is lower than the net direct tax collection of FY 2019-20, which was ₹10.51 lakh crore.
Indirect tax mop-up exceeds Revised Estimate by 9%
April 08, 2021
Govt hopeful of better days ahead; experts fear some bumps due to 2nd Covid wave
The Centre’s indirect tax collection during fiscal year 2020-21 (FY21) has exceeded not just the Revised Estimate but also actual collection of fiscal year 2019-20 (FY 20). However, experts feel that growth in collection may slow down a bit during FY21 on account of local lockdowns and curfew imposed by many States.
“March saw the highest indirect tax collection during the financial year (FY 21). We have exceeded last year’s actual by about 13 per cent and Revised Budget Estimates by about 9 per cent,” M Ajit Kumar, Chairman of Central Board of Indirect Taxes and Customs (CBIC), wrote in his weekly correspondence with all his officers and staff. “These are welcome signs of economic activity picking up in the country,” he said.
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