Quick Summary
Government is on track to exceed its total tax collection target for the current financial year, with direct tax and GST collection data suggesting potential it is more than enough. The latest trends indicate that the government can comfortably surpass the target of Rs 33 lakh crore and collect more than Rs 34.5 lakh crore in total tax revenue during the financial year. Outstanding performance in direct taxes According to a recent report, the driving force behind this economic success is i
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The government is projected to collect more than £34.5 lakh crore in total tax revenue for the current financial year, exceeding the initial target of £33 lakh crore.
Direct taxes and Goods and Services Tax (GST) collections are showing impressive performance, driving the overall tax revenue.
Direct tax collections grew significantly at a rate of 20.66 per cent per annum as of 17 December 2023.
The government has set a target of £9.56 lakh crore from central GST.
Central GST collections till November 2023 showed an increase of 14 per cent over the same period last fiscal. Monthly GST collections have crossed the £1.60 lakh crore mark for the sixth time in 24 months.
Customs collections have largely stagnated, showing little growth compared to the corresponding period last year.
CAclubindia
