Indirect Tax Revenue Grows by 22%: All Time High

March 11, 2017 18:23
Indirect Tax Revenue Grows by 22%: All Time High

The government’s revenue collection during the period April - February from the indirect taxes came up by 22% this year which is a huge surprise. The percentage of direct taxes rose by 10.7%. The total collections by the end of February stood as Rs 13.89 lakh crores. Among these, the total direct taxes have been Rs 6.17 lakh crores and the indirect taxes have been Rs 7.72 lakh crores.

The revenue from the direct and the indirect taxes witnessed a huge rise which is never such. Direct tax revenue includes corporate and personal income tax. Indirect tax takes into account mobilisation from excise, service tax and Customs duty. Even the gross income of CIT (Corporate Income Tax) increased by 11.9%.

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Indirect Tax Revenue