Higher advance tax drives 13% rise in net direct tax collection

The government’s net direct tax collection rose 13 per cent to over Rs 12.12 lakh crore till September 17 of the current fiscal on higher advance tax mop-up, according to the latest data released on Friday.
Corporate tax mop-up grew 19.48 per cent to about Rs 5.56 lakh crore, while non-corporate tax (individuals and HUFs) mop-up increased 6 per cent to over Rs 6.16 lakh crore. Securities Transactions Tax (STT) collection grew 53 per cent to Rs 40,214 crore between April 1 and September 17.Refund issuance jumped 29.19 per cent to over Rs 2.20 lakh crore till September 17, the data released by the Central Board of Direct Taxes (CBDT) showed.
Gross direct tax collection clocked a 15 per cent growth totalling over Rs 14.32 lakh crore.Advance Tax mop-up till September 17 increased 16.18 per cent to about Rs 5.22 lakh crore. This included an 18 per cent growth in advance corporate tax payments at over Rs 4.16 lakh crore, and a 9.24 per cent rise in non-corporate advance tax payments of Rs 1.06 lakh crore.