New Delhi, Dec 9 (IANS) Direct tax collection was up by 15.12 per cent to Rs 4.12 lakh crore while indirect tax collection jumped by 26.2 per cent to Rs 5.52 lakh crore during the April to November period this year, an official statement said on Friday.
"The figures for direct tax collections up to November 2016 show that net collections are at Rs 4.12 lakh crore which is 15.12 per cent more than the net collections for the corresponding period last year," said the Finance Ministry statement.
The collection up to November 2016 indicates that 48.67 per cent of the annual budget target of direct taxes has been achieved, it said.
Refunds amounting to Rs 1,05,561 crore have been issued during April-November, which is 17.35 per cent higher than the refunds issued during the corresponding period last year, it added.
On indirect tax collection, the Finance Ministry statement said: "The figures for indirect tax collections (Central Excise, Service Tax and Customs) up to November 2016 show that net revenue collections are at Rs 5.52 lakh crore, which is 26.2 per cent more than the net collections for the corresponding period last year."
The collection up to November 2016 indicates that 71.1 per cent of the annual budget target of indirect taxes has been achieved, it said.
"As regards central excise, net tax collections stood at Rs 2.43 lakh crore during April-November, 2016 as compared to Rs 1.69 lakh crore during the corresponding period in the previous financial year, thereby registering a growth of 43.5 per cent," the statement said.
Net tax collections on account of service tax during April-November 2016 stood at Rs 1.60 lakh crore as compared to Rs 1.27 lakh crore during the corresponding period in the previous financial year, thereby registering a growth of 25.7 per cent, it said.
Net tax collections on account of customs during April-November 2016 stood at Rs 1.48 lakh crore as compared to Rs 1.40 lakh crore during the same period in the previous financial year, thereby registering a growth of 5.6 per cent, it added.
