New Delhi: With direct tax gathering until October closes at Rs 6 Lakh Crore and the monthly average GST mop-up is likely around RS 1.15 lakh crore this fiscal, Kitty government tax collection will exceed the budget for estimating this financial year, Revenue Secretary Tarun said Bajaj.
In an interview with PTI, Bajaj said relief in Customs on gasoline and diesel and customs for vegetable oil will cost firmly around RS 80,000 Crore this financial year, and the income department will begin to calculate the position of the mop-up tax forecast a-vis budget estimates For this fiscal after the December advance tax number.
“After a refund too, we have touched almost Rs 6 lakh crore until October in direct tax …
it looks good.
May we have to exceed that.” Even though we have provided a lot of assistance in indirect taxes on gasoline, diesel and edible oil, there is also a sunset that comes in customs where the total benefits will be around Rs 75,000-80,000 Crore, but still I think we have to exceed the estimates It is budgeted on direct and indirect taxes, “Bajaj said.
The government has budgeted the growth of a 9.5 percent tax collection at the RS 22.2 lakh Crore for the Fiscal Year 2021-22 (April-March).
In the last fiscal, the mop-up is RS 20.2 lakh crore.
From this, revenue from the direct tax is estimated at around Rs 11 Lakh, including RS 5.47 lakh Crore from the Company’s tax and RS 5.61 lakh Crore from income tax.
Regarding tax revenues and services (GST), Bajaj said the collection in November will also be a good number but the December mop-up will be a little lukewarm.
Pick-up in the w collection I will be seen in the March quarter.
“The income looks good, PE Ndasapat gst is also good.
We passed Rs 1.30 lakh crore (in October).
This month, I think we should get a good GST number.
This is Diwali, our GST income will continue to change.
“But, I think the running rate should not go under Rs 1.15 lakh crore.
Overall, we have to do it well on GST, customs and customs, also we will Reach our budgeted estimates.
So, overall, we will exceed, “Bajaj said.
The Customs Collection in Fiscal is currently budgeted at RS 1.36 lakh Crore, Customs at RS 3.35 Lakh Crore.
In addition, GST income center, including Cess compensation, was pegged at Rs 6.30 lakh.
Crore.