Record tax collection of 27.07 lakh crores in FY22

Credent TV | Record tax collection in India 2022, direct tax collection has increased by 49% while indirect tax collection has increased by 30%. Revenue Secretary Tarun Bajaj gave this information on Friday. Bajaj said that better tax revenue reflects the flexibility of the economy. The tax-to-GDP ratio increased to 11.7% in FY22 from 10.3% in FY21. This is the highest since 1999.

Tarun Bajaj said that the direct tax collection in India 2022 has been Rs 14.10 lakh crore. This is Rs 3.02 lakh crore more than the budget estimate. Indirect tax collection stood at Rs 12.90 lakh crore as against the budget estimate of Rs 11.02 lakh crore. That is, the indirect tax collection has been 1.88 lakh crore more than the budget estimate.

Accordingly, the government’s gross tax collection record stood at Rs 27.07 lakh crore.