Tax Collection

Gross GST mopup too recorded its fastest growth in 2026-27, rising 22.9 per cent annually to Rs 2.31 trillion

Net direct tax collection rose 13.21 per cent to about Rs 13.38 lakh crore between April 1 and October 14, driven by a healthy pick-up in corporate taxes. Net corporate tax mop-up grew 20.58 per cent to over Rs 5.99 lakh crore, while non-corporate tax (paid by individuals, firms and HUFs) rose 5.83 per cent to about Rs 6.92 lakh crore so far this fiscal year. Collection from securities transaction tax (STT) swelled 52 per cent to Rs 46,840 crore till October 14 of FY27. Refund issuances soared 24.22 per cent year-on-year to Rs 2.65 lakh crore during the period. On a gross basis, direct tax collection rose 15 per cent to Rs 16.03 lakh crore till October 14. This included corporate tax collection of Rs 7.53 lakh crore and non-corporate tax of Rs 8.03 lakh crore.

Central tax collections rose 6.5% in April-August, trailing the 9% FY27 Budget target, as major tax receipts declined sharply in August.

Direct tax revenue collection so far this year has grown faster than the 15.25 per cent growth needed to achieve the full year target this year, compared to last fiscal's actual collection

Parliament informed that tax collections under the Black Money Act rose sharply, while probes into global leaks have led to over ₹41,000 crore in tax and penalty demand

In absolute numbers, the net GST revenue is the third highest in the last six months after January at ₹1.70 trn and October at ₹1.69 trn

Listed firms are benefiting from structural tailwinds which allow them to pull ahead of their unlisted peers

Refund pullback, not strong inflows, drives gains

Net direct tax collection grew 8.82 per cent to over Rs 18.38 lakh crore in the current fiscal till January 11, the Income Tax Department said on Monday. The mop-up includes net corporate tax collection of over Rs 8.63 lakh crore and tax from non-corporates, including individuals and HUFs, of Rs 9.30 lakh crore. Securities Transaction Tax collection stood at Rs 44,867 crore between April 1 and January 11. Refunds dropped 17 per cent to Rs 3.12 lakh crore during the period. Gross direct tax collection increased 4.14 per cent to about Rs 21.50 lakh crore till January 11 of this fiscal. In the current fiscal (2025-26), the government has projected its direct tax collection at Rs 25.20 lakh crore, up 12.7 per cent year-on-year. The government aims to collect Rs 78,000 crore from STT in FY26.

Net direct mopup growth lags Budget goal

Weak tax collections in October pushed Bihar's fiscal deficit to three times the FY26 budget estimate in seven months, with pre-poll spending adding pressure

Smaller states such as Odisha and Telangana are emerging as the fastest-growing contributors to GST and direct taxes, challenging the long-held dominance of India's traditional economic powerhouses

Following this uptick, PwC expects growth to moderate to 7 per cent in the second half, putting full-year expansion at 7.5-8 per cent

Muted domestic mop-up reflects rate-cut impact, festive deferment; import GST boost cushions growth

In August and September, collections were relatively subdued at ₹1.86 trillion and ₹1.89 trillion, respectively

After probing hotels for GST underpayment, authorities now seek booking-level data from online travel portals to check possible double taxation

India's fiscal deficit rose to 38.1 per cent of FY26 budget estimates in April-August, driven by higher capital expenditure and muted revenue receipts, CGA data showed

Exploring India's tax-to-GDP gap, lessons from global reforms, and the role of social security contributions in boosting revenue and citizen compliance

Gross GST collection increased 6.5 per cent to over Rs 1.86 lakh crore in August on higher domestic revenues, as per government data released on Monday. Gross Goods and Services Tax (GST) mop-up was Rs 1.75 lakh crore in August 2024. Last month, the collection was Rs 1.96 lakh crore. The gross domestic revenue grew 9.6 per cent to Rs 1.37 lakh crore, while tax from imports dipped 1.2 per cent to Rs 49,354 crore in August. GST refunds were down 20 per cent year-on-year to Rs 19,359 crore. Net GST revenue stood at Rs 1.67 lakh crore in August 2025, recording 10.7 per cent year-on-year growth. The data is released just two days before the meeting of the GST Council, comprising Centre and states, which will deliberate on rate rationalisation and reducing number of tax slabs.

Of the total collection, the share of goods and services tax (GST) and value added tax (VAT) stood at ₹20,798 crore and ₹7,060 crore, respectively