Authorities collects 1.01 lakh cr. From excise tax, ₹ 2.41 lakh cr. From income tax in Q1

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 Government collects 1.01 lakh cr. From excise tax, ₹ 2.41 lakh cr. From income tax in Q1

The government collected over 1.01 lakh crore of excise duty in the April-June period, while the direct tax collection was over 41 2.41 lakh crore, the Treasury said on Monday.

Minister of State for Finance Pankaj Chaudhary in Lok Sabha provided details of the taxes levied, saying that 41,831 crore was levied on customs duty and 1.01,564 crore on excise duty.

In 2020-21, the mop-up of customs and excise taxes was 1.34 million and over 3.89 million.

The government increased excise taxes on gasoline and diesel over the past year, which has led to an increase in excise levies.

Chaudhary said that for the first three months (April-June) of the current fiscal year, nearly 1.21 lakh crore and about 1.20 lakh crore as corporate income tax, respectively.

A securities transaction tax (STT) of ₹ 5,373 billion was levied.

For the past fiscal year, corporate income tax waiver was over 4.57 crore, PIT was over ₹ 4.71 crore and STT was ₹ 16,927 crore.

The central GST’s net recoveries through June were over 1.17 million and the offsetting income was 24,636 crore.