InvestorQ : How much is the direct and indirect tax revenue expected to be for FY23?
Anjali Desai made post

How much is the direct and indirect tax revenue expected to be for FY23?

Answer
image
1 year ago
Follow
Direct tax revenues are tracking at 63.1% of the BE as of April-November, bolstered by the trend in both corporate tax and income tax collections which touched 64.6% and 61.7% of BE respectively. Indirect taxes, which are trailing at 75.9% of BE as of November continue to outperform direct taxes led by modest growth across its subcomponents. Within indirect taxes, the mop-up from GST collections has been noteworthy as the revenues from GST have continued to track above the Rs1tn mark since Oct-20 (barring Jun-21) and registering an FYTD22average of Rs1193.5bn.

Gross tax revenue is expected to exceed in FY22 vis-à-vis the budget estimates on account of higher tax collections. Consensus estimates expect total tax revenue growth of ~15% YoY, with direct taxes rising by 19% YoY and indirect taxes are expected to be subdued on potential cut in excise duties going forward.
134 Views