Registering robust growth, the Centre’s tax receipts rose to ₹5.25 lakh crore by August end 2016.
Data released by the Finance Ministry on Monday revealed that direct tax collections grew 15.03 per cent up to August 2016 to amount to ₹1.89 lakh crore of net collection.
However, while gross corporate tax collections rose by 11.55 per cent, the net collections dipped by 1.89 per cent after refunds. Net growth in personal income tax collections was a buoyant 31.76 per cent.
Meanwhile, the net indirect tax kitty jumped up by 27.5 per cent in August to amount to ₹ 3.36 lakh crore.
Net collections from central excise rose by 48.8 per cent to ₹1.53 lakh crore during April-August, 2016. Net Tax collections on account of service tax during April-August grew 23.2 per cent, 2016 stood at ₹ 92,696 crore. Net receipts from customs duty between April and August grew 5.07 per cent to ₹90,448 crore.
The Finance Ministry said that by August end 2016, 43.2 per cent of the Budget Estimates of indirect taxes for 2016-17 has been met while in the case of direct tax 22.3 per cent of the full year target has been achieved.