How the net indirect revenue grew in FY21

April 14, 2021 11:51

The net indirect tax collection in 2020-21 grew 12.3 per cent annually to Rs 10.71 lakh crore, thereby exceeding the target set in revised estimates, the finance ministry said on Tuesday.

The mop-up through indirect taxes, which include GST, Customs and excise duties, was Rs 9.54 lakh crore in 2019-20.

In the Revised Estimates (RE) for 2020-21, the target was set at Rs 9.89 lakh crore. Net collections from Goods and Services Tax (GST) stood at Rs 5.48 lakh crore during 2020-21, an eight per cent drop compared to Rs 5.99 lakh crore in the previous fiscal year.

This includes revenues from Central GST, Integrated GST and compensation cess.

Customs revenue during 2020-21 came in at Rs 1.32 lakh crore, a 21 per cent growth over Rs 1.09 lakh crore collected in 2019-20.

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