Government achieves the Tax Revenue Targets for FY 2015-16; Actual collections of Direct & Indirect Tax Revenues in FY 2015-16 is Rs. 14.60 Lakh Crore as against Revised Target (RE) of Rs. 14.55 Lakh crore
The aggregate Budget Estimates (BE) for total Direct and Indirect Tax Revenues for FY 2015-16 was Rs 14.45 Lakh Crore which was revised to Rs 14.55 Lakh Crore (RE). The actual collection (provisional) is Rs 14.60 Lakh Crore. The total collection has exceeded the RE and represents a growth of 17.6% compared to the last financial year.
The Indirect Tax revenue (provisional) collections stand at Rs 7.11 Lakh Crore and has exceeded the BE and RE by Rs 65,618 Crore and Rs 9,885 Crore respectively. This represents a robust growth of 31.1% over revenue receipts in 2014-15.
The Direct Tax revenue collections (prov.) stand at Rs 7.48 Lakh crore which is only slightly lower than the RE of Rs 7.52 Lakh Crore. This represents a growth of 7.61% over the receipts in 2014-15.
CAclubindia
