
Tax collections dip: Net direct tax mop-up falls 1.34% to Rs 5.63 lakh crore as refunds surge; gross receipts rise 3.17%
India’s net direct tax collections declined 1.34% year-on-year to Rs 5.63 lakh crore as of July 10, dragged down by a sharp surge in refunds, according to government data released on Friday. Gross tax collections — before adjusting for refunds — rose 3.17% to Rs 6.65 lakh crore during the period, reflecting an underlying improvement…