Direct tax collections surge 15.7% in Apr-Nov: FinMin

NEW DELHI: Gross direct tax collections surged 15.7% to ₹6.75 lakh crore for April-November, the finance ministry said on Monday. Refunds worth ₹1.23 lakh crore have been issued in the eight months of the current fiscal, which is 20.8% higher than refunds issued in the same period last year. “The provisional figures of direct tax collections up to November, 2018, show that gross collections are at ₹6.75 lakh crore which is 15.7% higher than the gross collections for the corresponding period of last year,” the finance ministry said in a statement. The net direct tax collections represent 48% of the total budget estimates of direct taxes for financial year 2018-19 (₹11.50 lakh crore).