India’s net direct tax collections fall 4% y/y from April-August, ETCFO
NEW DELHI -India’s net direct tax collections dropped 4% year-on-year to 6.64 trillion rupees ($75.79 billion) from April 1 to Aug 11, the government on Tuesday.
Direct taxes, which include corporate and personal tax, fell nearly 2% year-on-year to 7.99 trillion rupees on a gross basis during the period, the statement from the income tax department said.
The government said it had issued tax refunds worth 1.35 trillion rupees during the period, about 10% higher than last year.
($1 = 87.6050 Indian rupees)
(Reporting by Nikunj Ohri; Editing by Andrew Heavens)
