Tax revenues soar 34% to record Rs 27.07 lakh crore in FY22; tax-GDP ratio highest in 2 decades

India's gross tax collections soared to a record high of Rs 27.07 lakh crore in the fiscal year ended March 31, led by impressive growth in corporate tax and customs, taking the tax-to-GDP ratio to an over two-decade high of 11.7 per cent, Revenue Secretary Tarun Bajaj said on Friday. Reflecting buoyancy in economy and the impact of anti-tax evasion measures, direct tax collection rose by a record 49 per cent to Rs 14.10 lakh crore, while indirect taxes posted a growth of 20 per cent to Rs 12.90 lakh crore.

from IndiaTV Business: Google News Feed https://ift.tt/HhyJnZO
via IFTTT