Latest tax collections figures up to 31st January

The latest tax revenue numbers up to 31st January, 2016 indicate healthy growth of 33.7% in Indirect Tax and 10.9% in Direct Tax collections. As against the Annual BE target for tax collections of Rs.14.49 lakh crore, the Government has received Rs.10.66 lakh crore, which is, 73.5% of the BE target. Looking to the trend, it appears that as far as Indirect Tax collections are concerned, the Government may get more than Rs.40,000 crore extra over and above the BE target for Indirect Taxes for 2015-16 while there might be an equal amount of shortfall in Direct Tax collections. However, both Direct and Indirect Tax collections put together, we expect to meet the annual BE target of Revenue collections for the current year without any shortfall.