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TMI BlogDetails of Central Taxes collected by the Union GovernmentX X X X Extracts X X X X X X X X Extracts X X X X ..... Details of Central Taxes collected by the Union Government - News and Press Release Dated:- 8-3-2021 - News - 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, I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome 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, unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 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:- Direct Taxes (Rs. in Crore) Major Head Revised Target C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orporation Tax 4,46,000 Taxes on Income 4,47,000 Security Transaction Tax 12,000 Indirect Taxes (Rs. in Crore) Major Head Revised Estimate Custom Duty 1,12,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Union Excise Duty 3,61,000 Service Tax (arrears) 1,400 Goods and Services Tax including CGST, IGST Compensation Cess 5,15,100 The Minister gave further details of amount of Central taxes which have been collected till 31 st December, 2020 (for financial year 202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0-21) as under: Particulars Net Collection (Rs. in Crore) Direct Taxes 6,20,529.14 Indirect Taxes 7,12,231.78 The releases of States Share/Tax Devolution is as per the accepted recommendations of Finance Commission for its award period, the Minist ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er stated. The State-wise details of States share and releases is as per Annexure . - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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