New Delhi, April 13
The net indirect tax collection in 2020-21 grew 12.3% to Rs 10.71 lakh crore as compared to the previous fiscal year, thereby exceeding the target set in revised estimates, the Finance Ministry said on Tuesday.
The mop-up through indirect taxes, which include GST, customs and excise duties, was Rs 9.54 lakh crore in 2019-20. In the Revised Estimates (RE) for 2020-21, the target was set at Rs 9.89 lakh crore.
In 2020-21, the net GST collection of the Centre stood at Rs 5.48 lakh crore, while customs mop-up was Rs 1.32 lakh crore.
The net tax collection on account of central excise and service tax (arrears) during 2020-21 stood at Rs 3.91 lakh crore as compared to Rs 2.45 lakh crore in 2019-20, thereby registering a growth of 59.2%, the ministry said.
“The provisional figures for indirect tax collection (GST and non-GST) for the fiscal 2020-21 show that net revenue collection is at Rs 10.71 lakh crore as compared to Rs 9.54 lakh crore for financial year 2019-20, registering a growth of 12.3%,” it said. — PTI