Direct tax mop-up jumps 35.5% to Rs 6.48 trillion in FY23: Govt

The ministry said refunds amounting to Rs 1.19 trillion have been issued till September 8 this fiscal year, 65.3 per cent higher than the refunds issued for the same period in FY22.

The provisional gross direct tax collections for FY23 till September 8 stood at Rs 6.48 trillion, which is 35.5 per cent higher than the same period last year, the Finance Ministry said in a statement on Friday.

“Direct tax collections, net of refunds, stand at Rs 5.29 trillion, which is 30.2 per cent higher than the net collections for the corresponding period of last year, the ministry said, adding that this was 37.2 per cent of the net direct tax Budget Estimate for FY23.

The ministry said refunds amounting to Rs 1.19 trillion have been issued till September 8 this