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Govt expects direct taxes to overshoot target by Rs 30,000 crore: report

Govt expects direct taxes to overshoot target by Rs 30,000 crore: report

Govt expects direct taxes to overshoot target by Rs 30,000 crore: report
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By CNBC-TV18 Dec 3, 2018 9:48:50 AM IST (Updated)

The Modi government, despite a shortfall in the goods and services tax (GST) collections, expects direct tax collections to be more than the budgeted target by Rs 30,000 crore, Business Standard reported.

The Modi government expects direct tax collections to be more than the budgeted target by Rs 30,000 crore, Business Standard reported.

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This will help the government meet the fiscal deficit target of 3.3 percent of the gross domestic product (GDP) for 2018-19 despite a shortfall in the goods and services tax (GST) collections, top government sources told the newspaper.
The fiscal deficit or gap between expenditure and revenue was Rs 6.48 lakh crore or 103.9 percent of Budget Estimate (BE) during April-October of the current financial year. At end of October 2017-18, the deficit was 96.1 percent of the BE.
The revenue collection under the GST slided to Rs 97,637 crore in November, after breaching the Rs 1-lakh crore-mark in October. The revenue collected in November relates to transactions made in October. The total GST revenue collected in October (for September) was Rs 1,00,710 crore.
 
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