Net tax collection increased by 74.4% to Rs 5.70 trillion in September from Rs 3.27 trillion the previous year.
CBDT issues refunds of over Rs. 70,120 crore to more than 26.09 lakh taxpayers between April 1, 2021, to September 6, 2021.
CBDT has issued over Rs 67,400 crore worth refunds in five months of the current fiscal.
While the all-India net collection figure during this period stood at Rs 1.44 lakh crore, Mumbai circle topped the chart
The buoyancy in the tax mop-up is attributed to the “overheated market.”
Reasons for the increase in the tax collections include the revival of economic activities and positive sentiments among taxpayers.
SBI report shows that cut in taxes in FY20 has contributed 19% to the top line of sample sectors during the pandemic
GST revenues have crossed Rs 1 lakh crore mark with a record GST revenue collection of Rs 1.41 lakh crore in April 2021.
Individual taxpayers contribute their share during the pandemic, job losses and pay cut
The collections on petrol and diesel rose to Rs 2.94 lakh crore in the first 10 months of the current fiscal