Net Direct tax collection surges 23.4 percent to 10.6 lakh crore rupees between April and November

The government’s net direct tax collection for April to November 2023, stood at 58.34 percent of Budget Estimates (BE) at 10.64 lakh crore rupees. In a series of social media posts, the Ministry of Finance said that the net tax collection for April-November stood at 10.64 lakh crore rupees, which is 23.4 percent higher than the corresponding period of last year. 

The Gross collections, before



issuing refunds, grew at 17.7 percent to 12.67 lakh crore rupees in the April-November period. The Refund amount issued from April to November of the current fiscal stood at 2.03 lakh crore rupees.

Meanwhile, in the current fiscal, 18.23 lakh crore rupees is expected to be collected in direct taxes and 15.38 lakh crore rupees from indirect taxes.