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TMI BlogTax collection figures for the period April -December 2016 show a positive trend as Direct Taxes grow by 12.01% and Indirect Taxes grow by 25% over the corresponding period last year i.e. April-December 2015X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax collection figures for the period April -December 2016 show a positive trend as Direct Taxes grow by 12.01% and Indirect Taxes grow by 25% over the corresponding period last year i.e. April-December 2015 - News and Press Release Dated:- 9-1-2017 - News - Press Information Bureau Government of India Ministry of Finance 09-January-2017 12:53 IST Direct Tax and Indirect tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... collection figures for the period April 2016 to December 2016 have shown a positive trend as Direct Taxes grow by 12.01% and Indirect Taxes grow by 25% over the corresponding period last year i.e. April-December 2015. The details in this regard are as follows: Direct Taxes The figures for Direct Tax collections up to December, 2016 show that net collections are at ₹ 5.53 lakh cr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore which is 12.01% more than the net collections for the corresponding period last year. This collection is 65.3% of the total Budget Estimates of Direct Taxes for F.Y. 2016-17. As regards the growth rates for Corporate Income Tax (CIT) and Personal Income Tax (PIT), in terms of gross revenue collections, the growth rate under CIT is 10.7% while that under PIT (including STT) is 21.7%. However ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , after adjusting for refunds, the net growth in CIT collections is 4.4% while that in PIT collections is 24.6%. Refunds amounting to ₹ 1,26,371 crore have been issued during April-December, 2016, which is 30.5% higher than the refunds issued during the corresponding period last year. After accounting for the third instalment of advance tax received in December, 2016, the collections unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r advance tax stand at ₹ 2.82 lakh crore, which is 14.4% higher than the figures for the corresponding period of last year. CIT advance tax is growing at 10.6% while PIT advance tax has registered a growth of 38.2%. Indirect Taxes The figures for indirect tax collections (Central Excise, Service Tax and Customs) up to December 2016 show that net revenue collections are at ₹ 6.3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 lakh crore, which is 25% more than the net collections for the corresponding period last year. Till December 2016, about 81% of the Budget Estimates of indirect taxes for Financial Year 2016-17 has been achieved. As regards Central Excise, net tax collections stood at ₹ 2.79 lakh crore during April-December, 2016 as compared to ₹ 1.95 lakh crore during the corresponding period in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the previous Financial Year, thereby registering a growth of 43%. Net Tax collections on account of Service Tax during April-December, 2016 stood at ₹ 1.83 lakh crore as compared to ₹ 1.48 lakh crore during the corresponding period in the previous Financial Year, thereby registering a growth of 23.9%. Net Tax collections on account of Customs during April-December 2016 stood at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 1.67 lakh crore as compared to ₹ 1.60 lakh crore during the same period in the previous Financial Year, thereby registering a growth of 4.1%. During December 2016, the net indirect tax (with ARM) grew at the rate of 14.2% compared to corresponding month last year. The growth rate in net collection for Customs, Central Excise and Service Tax was -6.3%, 31.6% and 12.4% respectively ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... during the month of December, 2016, compared to the corresponding month last year. The de-growth in customs collections appear to be on account of a decline of gold imports by about 46% (in volume terms) in December 2016 over December 2015. ***** DSM/MS/KA - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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