Govt collects ₹1.01 lakh cr. from excise, ₹2.41 lakh cr. from income tax in Q1

The government has collected over ₹ 1.01 lakh crore in excise duty in April-June period, while direct tax collection stood at over ₹ 2.41 lakh crore, the Finance Ministry said on Monday.

Giving details of tax collected, Minister of State for Finance Pankaj Chaudhary in Lok Sabha said ₹ 41,831 crore was collected from Customs duty and ₹ 1,01,564 crore from excise duty.

In 2020-21, the mop-up from Customs duty and excise was ₹ 1.34 lakh crore and over ₹ 3.89 lakh crore.

The government last year hiked excise duty on petrol and diesel which led to an increase in excise collections.

Giving details of direct tax collection, Chaudhary said in the first three months (April-June) of the current fiscal year, nearly ₹ 1.21 lakh crore and over ₹ 1.20 lakh crore was collected as corporate tax and personal income tax (PIT) , respectively.

An amount of ₹ 5,373 crore was collected as Securities Transaction Tax (STT).

In the last fiscal year, the mop-up from corporate tax was over ₹ 4.57 lakh crore, PIT over ₹ 4.71lakh crore and STT ₹ 16,927 crore.

The net Central GST collection till June stood at over ₹ 1.17 lakh crore and compensation cess collection was ₹ 24,636 crore.

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