The direct tax collection has gone up by 17.1 per cent at Rs 9.95 lakh crore for 2017-18. The total budget estimates of direct taxes for FY2017-18 was Rs 9.8 lakh crore.
During the month of February Rs 89,260 crore has been collected and a total of 17,616 crore as refund has been given out so far, said Hasmukh Adhia, the finance secretary, while addressing a press conference.
Simialrly, nearly 6.84 crore tax returns were filed, during the last financial year, compared with 5.43 crore in the previous year. Direct taxes include income tax paid by individuals, corporation tax and wealth tax.
The net corporate tax percentage has jumped up by at 17.1% while personal tax has gone up by 18.9%, stated the CBDT Chairman
Direct tax collections jumped by 18.2 per cent during the first nine months from April to December at Rs 6.56 lakh crore. The net direct tax collection for nine months accounted for 67 per cent of the total budget estimates of direct taxes.
On the roll out of the e-way Bill the GSTN chairman Ajay Bhushan Pandey said that a total of 2.59 lakh bills were generated on the first day. The number has increased to 2.89 lakhs today.
A total of 11 lakh dealers have registered for the e-way bill. The GST Council has decided to roll it out in a staggered manner starting with inter-state from April 1 and intra-state from April 15.
Moreover, Rs 9,604 crore (IGST refunds), Rs. 5,510 crore (ITC refund by Centre) and Rs 2,502 crore (ITC refund by States) all totalling to Rs 17,616 crore has been sanctioned. Apart from this, Rs 16,680 crore duty drawback has been disbursed to exporters during the period from 1.7.2017 to 31.03.2018.