At gross level, which is before adjusting for refunds, direct taxes collections for FY 2023-24 stood at Rs 23.37 lakh crore, a growth of 18.48 per cent over the gross collection of Rs 19.72 lakh crore in previous financial year.
Lauding the efforts of tax officials, CBIC chairman Sanjay Kumar Agarwal, in a letter to field officials, said, "I am happy to inform that the indirect tax collections for the Financial Year 2023-24, including Customs and Union Excise Duty have exceeded the Revised Estimates by a handsome margin.”
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.