Direct, indirect tax collections up in April-Nov

The Centre seems to be on a strong wicket on both direct and indirect tax collections’ front going by the mop-up till November this fiscal.

While net direct tax collections were up 15.12 per cent during April-November 2016, net indirect tax collections were up 26.2 per cent during the same period.

As of end-November, the Centre has on the direct taxes front achieved 48.67 per cent of the budget estimate for 2016-17. On the indirect taxes front, 71.1 per cent of the budget estimate for 2016-17 has been achieved.

Direct taxes Net direct tax collections grew 15.12 percent to ₹4.12 lakh crore. While net corporate tax collections grew 8.75 per cent, net personal income tax collections during April-November 2016 grew 23.89 per cent.

Refunds amounting to ₹1,05,561 crore have been issued during April-November, 2016, which is 17.35 per cent higher than the refunds issued during the corresponding period last year, an official release said.

Indirect taxes For the April-November 2016 period, net indirect tax collections came in at ₹5.52 lakh crore, up 26.2 per cent over the corresponding period last fiscal. Net central excise collections stood at ₹2.43 lakh crore, registering a growth of 43.5 per cent over the corresponding period last fiscal.

Service tax collections (net) for April-November 2016 stood at ₹1.60 lakh crore, up 25.7 per cent over net collections of ₹1.27 lakh crore in same period last fiscal.

Net customs duty collections during April-November 2016 stood at ₹1.48 lakh crore , up 5.6 per cent over net collections of ₹1.40 lakh crore in same period last fiscal.