New Delhi, June 18 (SocialNews.XYZ) India’s net direct tax collections surged 14.64 per cent (year-on-year) to Rs 5.21 lakh crore in the April 1-June 17 period this fiscal (FY27), according to data released by the Income Tax Department on Thursday.
Net direct tax collections stood at Rs 5.21 lakh crore as on June 17, compared with rs 4.5 trillion collected during the corresponding period of FY26.
In the meantime, gross direct tax collections increased 12.46 per cent to Rs 6.1 lakh crore from Rs 5.4 lakh crore from the year-ago period.
Also, the I-T Department data showed that refunds issued during the period reached Rs 89,025.71 crore — up 1.19 per cent from Rs 87,979.39 crore in the same period last year.
Advance tax collections also clocked double-digit growth during the period.
Total advance tax collections stood at Rs 1.78 lakh crore, up 15.30 per cent from Rs 1.54 trillion in the corresponding period of the previous fiscal.
Advance corporate tax collections went up 16.01 per cent to Rs 1.40 lakh crore.
Also, advance non-corporate tax collections increased 12.73 per cent to Rs 37,620.32 crore.
Corporate tax collections, on a net basis, rose to Rs 2.08 lakh crore from Rs 1.7 lakh crore a year ago.
Meanwhile, the gross Goods and Services Tax (GST) collections rose 3.2 per cent year-on-year to around Rs 2 lakh crore in May, despite geopolitical tensions in West Asia, according to government data.
As per data, gross GST revenue stood at Rs 1,94,184 crore in May, compared to Rs 1,88,172 crore in the same month last year. Meanwhile, net GST collections reached Rs 1,66,904 crore, a growth of 3.3 per cent over the corresponding period last year.
Total refunds during the month increased 2.6 per cent year-on-year to Rs 27,281 crore.
—IANS
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Source: IANS
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