Net direct tax collections: So far, the Net Direct Collection of the government has exceeded Rs 10.82 lakh crore in the current financial year. The tax collection has strengthened due to increasing advance tax collection from companies and slowing refunds.
Net direct collection includes personal income tax and corporate tax. From 1 April to 17 September, the refund amount declined by 24 percent to Rs 1.61 lakh crore. Advance tax collection received from companies increased by 6.11% to Rs 3.52 lakh crore. At the same time, non -corporate tax collection was reduced by 7.30 percent to Rs 96,784 crore.
Corporate and non -corporate tax collection
Net corporate tax collection increased to Rs 4.72 lakh crore between April 1 to September 17. (It was Rs 4.50 lakh crore in the same period of 2024.) Non corporate tax collection was about 5.84 lakh crore rupees so far, which is more than 5.13 lakh crore rupees in the previous year. Non corporate tax consists of individual and HUF (Hindu undivided families).
STT and Total Tax Collection
Securities Transaction Tax (STT) Collection: Rs 26,306 crore
(Rs 26,154 crore in the same period last year)
Net Direct Collection: 9.18 percent to Rs 10.82 lakh crore
(9.91 lakh crore rupees last year)
Gross Direct Tax Collection: 12.43 lakh crore rupees
(Annual increase of 3.39 percent)
Government’s goal
The government has kept the target of Rs 25.20 lakh crore in the current financial year 2025-26, which is 12.7 percent more than the previous year. Also, the target is to raise Rs 78,000 crore from STT in this financial year. On the other hand, Union Finance Minister Nirmala Sitharaman said that the recent reforms in GST will bring Rs 2 lakh crore in the economy and this will increase tremendous demand in all areas.
He further said that the GST Council’s decision to cut rates was possible because the state came together in a sense of cooperation. There is no giving and giving model in GST. If the revenue is low, the center is equally borne.
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