Govt’s net indirect tax collection jumps 12%, says finance ministry

The provisional net indirect tax collection for financial year 2020-21 has registered a growth of more than 12 per cent, according to a government release.

The net revenue collections in FY-21 are at Rs 10.71 lakh crore as compared to 9.54 lakh crore for 2019-20, the finance ministry said.

"Net indirect tax collection for the financial year 2020-21 shows that 108.2% of the Revised Estimates (RE) of indirect taxes for Financial Year 2020-21 has been achieved," it said in the release.

As regards customs, net tax collections stood at Rs 1.32 lakh crore during financial year 2020-21 as compared to Rs 1.09 lakh crore during the previous financial year, thereby registering a growth of around 21 per cent.

The government release said that above figures are provisional and subject to change pending reconciliation.