Transaction tax

The government collects Rs 1.01 lakh cr from excise, Rs 2.41 lakh cr from income tax in the first quarter


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The government collected over Rs 1.01 lakh crore in excise duties during the April-June period, while the collection of direct taxes stood at over Rs 2.41 lakh crore, the government said on Monday. Ministry of Finance.

Giving details of the taxes collected, Minister of State for Finance Pankaj Chaudhary in Lok Sabha said that Rs.41,831 crore was levied on customs duties and Rs.101,564 crore on customs duties. excise.

In 2020-2021, the levy of customs and excise duties was Rs 1.34 lakh crore and more than Rs 3.89 lakh crore.

Last year, the government increased excise taxes on gasoline and diesel, which resulted in increased excise collections.

Giving details on the collection of direct tax, Chaudhary said that in the first three months (April-June) of the current fiscal year, nearly Rs 1.21 lakh crore and over Rs 1.20 Rs lakh crore were collected under corporate income tax and personal income tax (PIT), respectively. .

An amount of Rs 5,373 crore was collected under the securities transaction tax (STT).

In the last fiscal year, the corporate tax levy was over Rs 4.57 lakh crore, PIT of Rs 4.71 lakh crore and STT Rs 16,927 crore.

Central GST net collection through June was over Rs 1.17 lakh crore and clearing cess collection was Rs 24,636 crore.

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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