 "Rs 3.25 crore in old notes seized from a hotel in Karol Bagh, New Delhi. Photo: Twitter(@ANI_news)")
Demonetisation slightly hit tax mop-up in December, with indirect tax collections growing 14.2%, down from 23.1% in November and 30.5% in October, showed data released by the finance ministry on Monday. October figures may be higher due to festival season as well.
Only personal income tax collections bucked the trend partly due to change in the time schedule of payment of advance tax and partly due to better compliance after demonetisation.
However, the government is on track to exceed Budget Estimates (BE) , due to higher growth in pre-demonetisation months.
Dismissing economic slowdown, Finance Minister Arun Jaitley said, “Those reports
