The Indian government’s gross direct tax collections for April 1 to August 11 rose 23.99% over the comparable period of the previous year to Rs 8.13 lakh crore, government said on Monday.
In the same period last year, collections were at Rs 6.55 lakh crore.
The data reveals that net direct tax collections, after accounting for refunds, have also seen a notable increase. Net collections stand at Rs 6.93 lakh crore, marking a 22.5% rise from the previous fiscal year, the statement said.
Gross personal income tax collections have shown a significant increase over the past year. For the fiscal year 2023-24, collections stood at Rs 3.91 lakh crore as of August 11, 2023. In comparison, for the fiscal year 2024-25, collections have risen to Rs 4.81 lakh crore as of August 11, 2024, reflecting a substantial growth in personal income tax revenue.
In July, GST collections also rose 10.3 per cent to over Rs 1.82 lakh crore, mainly driven by domestic transactions in goods and services, according to official data released on Thursday.
According to the data, total refunds stood at Rs 16,283 crore in July.The net Goods and Services Tax (GST) collection after adjusting refunds was over Rs 1.66 lakh crore, a growth of 14.4 per cent.
