The Centre’s tax revenues continued to show buoyancy with both direct and indirect taxes collections recording a robust increase of over 20 per cent during the April-July period, showing improved economic activity.

While net direct tax collections grew 24.01 per cent for April-July 2016, indirect tax collections grew a whopping 29.1 per cent for the same period, official data released on Tuesday showed.

Till July 2016, the Centre has achieved 18.82 per cent of the Budget estimate of direct taxes for 2016-17.

In the case of indirect taxes, the Centre has achieved till July this fiscal, 34.9 per cent of the Budget estimate of indirect taxes for 2016-17.

Direct taxes Net direct tax collections grew 24.01 per cent during April-July to ₹1.59 lakh crore. On a gross basis, corporate income tax collections grew 11.65 per cent and personal income tax collections (including securities transaction tax) grew 31.47 per cent, an official release said.

However, after adjusting for refunds, the net growth in corporate income tax collections was 2.84 per cent, while that of personal income tax collection was 46.55 per cent. For the April-July period, the I-T Department had given refunds amounting to ₹64,181 crore, which is 10.43 per cent higher than the refunds issued during the corresponding period last year.

Indirect taxes While Central excise collections shot up 50.8 per cent in April-July, service tax collections grew 25.8 per cent. Customs collections recorded 7.9 per cent growth.

In July, indirect taxes collections grew 23.4 per cent to ₹68,341 crore (₹55,388 crore).

While Central excise grew 53.8 per cent to ₹31,782 crore (₹20,658 crore), service tax collections increased 25 per cent to ₹19,600 crore (₹15,685 crore).

Customs collections contracted 11 per cent to ₹16,959 crore (₹19,045 crore).

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