Direct tax collections grow 17% to Rs 9.95 lakh crores in 2017-’18, record 6.84 lakh returns filed
Goods and Services Tax collections for February are the highest in five months.
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A record 6.84 lakh income tax returns were filed in the financial year 2017-’18, exceeding the government’s target, the Centre said on Monday. It also reported direct tax collections of Rs 9.95 lakh crore in the financial year, up 17% from last year. The government had earlier pegged direct tax collections at Rs 9.8 lakh crore.
The number of income tax returns filed was higher than that in 2016-’17 by 26%, said Central Board of Direct Taxes Chairman Sushil Chandra. In 2017-’18, as many as 99.5 lakh new assessees were brought under the tax ambit, the Centre said.
Meanwhile, the government collected Rs 89,264 crore as revenue through the Goods and Services Tax in March, Finance Secretary Hasmukh Adhia said. This reflects the taxes paid for the month of February.
This is the highest GST collection in five months. Till March 25, the total GST collection in February stood at Rs 85,174 crore.
GST revenue collection for the month of March is Rs 90,000 Crore: Finance Secretary Hasmukh Adhia pic.twitter.com/5FUNKKdYtA
— ANI (@ANI) April 2, 2018
1.10 crore registered dealers had filed returns amounting to Rs 8.38 crore: GSTN Chairman
— ANI (@ANI) April 2, 2018
2017-18 direct tax collection at Rs 9.95 lakh crore, up 17.1% year-on-year. Nearly 6.84 Cr tax returns were filed vs 5.43 Cr, up 26% year-on-year and net corporate tax percentage at 17.1%, personal tax at 18.9%: CBDT Chairman pic.twitter.com/scoACWRIaf
— ANI (@ANI) April 2, 2018
We had got around 200 complaints for anti-profiteering. Director General of Goods and Services Tax Intelligence has caught cases amounting to Rs 200 Cr where GST has been collected but not deposited: Hasmukh Adhia pic.twitter.com/bfzoIGIjkb
— ANI (@ANI) April 2, 2018