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News INCOME TAX

  • May 03, 2019
  • Centre's tax revenue at Rs 13.2 trillion in FY19, missed target by 11%

    The central government missed its tax revenue target by 11 per cent in 2018-19. There was lower than expected collection from the central goods and services tax, personal income tax and Union excise duties. However, the customs collection target, raised during the year by 15 per cent over what was initially budgeted, was fully realised.This was perhaps also due to increases in tariffs on a range of items. Similarly, the target for corporation tax, also revised upward during the year by a steep Rs 50,000 crore, was almost met. Net tax revenue for 2018-19 (the financial year ended ...