The Finance Ministry has said that net direct tax collection rose by 11.18 per cent to Rs 3.80 lakh crore till June 17 2023 on higher advance tax mop up. The Advance Tax collections for the April-June quarter of 2023-24 stood at Rs 1,16,776 crore as of June 17, reflecting a growth of 13.70 per cent over the same period last fiscal.
The Net Direct Tax collection of Rs 3,79,760 crore (as of June 17 2023) includes corporation tax (CIT) at Rs 1,56,949 crore and personal income tax (PIT) including Securities Transaction Tax(STT) at Rs 2,22,196 crore.
On a gross basis, before adjusting refunds, the collection stood at Rs 4.19 lakh crore, a 12.73 per cent growth over the same period last fiscal. This includes Corporation Tax (CIT) at Rs 1.87 lakh crore and Personal Income Tax (PIT) including Securities Transaction Tax (STT) at Rs 2.31 lakh crore. Refunds amounting to Rs 39,578 crore have been issued till June 17, a 30 per cent growth over last year.
