Tax mop-up likely to top target by Rs 2.5 trillion, say experts

Monthly GST collection likely to touch Rs 1.5 trillion next fiscal year

The central government is likely to exceed the budgeted tax collection target of Rs 22.2 trillion for the current fiscal year, led by better indirect tax mop-up, compliance measures, and recovery in most sectors following the second wave of the Covid pandemic. It, according to experts, may overshoot the target by Rs 2.5 trillion.

Personal income and corporate tax collections (net of refunds) grew 74 per cent to Rs 5.70 trillion in the first half of the current financial year, driven mainly by advance tax and TDS payments. The target for the current fiscal year is Rs 11.08 trillion; higher