GST collection on an upswing; exceeded FY18 target for direct tax: Finance secretary

GST collection on an upswing; exceeded FY18 target for direct tax: Finance secretary

Addressing a press conference, finance secretary Hasmukh Adhia said that the government has exceeded direct tax collection target for FY18.

The finance secretary said that total GST collections are on an upswing and the February mop up came in at Rs 89,260 crore.
A total of 17,616 crore as refund has been given out so far, he added.

The finance secretary said that the e-way bill was successfully rolled out on Sunday without any glitches.

The GSTN chairman Ajay Bhushan Pandey said that a total of 2.59 lakh bills were generated on the first day and the figure has gone up to 2.89 lakhs today.

A total of 11 lakh dealers have registered for the e-way bill, he added.
The CBDT chairman Sushil Chandra said that the government has collected Rs 9.95 lakh crore under direct taxes in FY18. Net corporate tax recorded a growth of 17.1% while net personal income tax recorded a growth of 19.9%.

Also, 6.84 crore income tax returns were filed in FY18 against 5.43 crore in the previous year, CBDT chairman added.

Source: https://economictimes.indiatimes.com/news/economy/policy/gst-collection-on-an-upswing-exceeded-fy18-target-for-direct-tax-finance-secretary/articleshow/63581543.cms

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