Details of Central Taxes collected by the Union Government

Giving details of the taxes which are solely collected by the Union Government, Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today, stated them as under:-

Direct Taxes

Corporation Tax, Income Tax, Other Taxes in Income & Expenditure, Wealth Tax, Security Transaction Tax and Other Tax and Duty on Commodities & Services.

Indirect Taxes

Central GST, Union Excise Duty on petroleum products & tobacco and Custom duties. Out of these, levy and collection of Union Excise Duty on products outside GST and Custom Duty is done solely by the Union Government. However, under the GST, both the Union and States have concurrent powers to levy and collect tax.

The Minister further gave the tax-wise target for Central taxes to be collected from 1^st April, 2020 to 31^st March, 2021, tax-wise is as under:-

 The Minister gave further details of amount of Central taxes which have been collected till 31^st December, 2020 (for financial year 2020-21) as under: 

 The releases of States’ Share/Tax Devolution is as per the accepted recommendations of Finance Commission for its award period, the Minister stated. The State-wise details of States’ share and releases is as per Annexure.