Updated By: LatestGKGS Desk
Collection of Direct Tax rises to 13.6% after demonetisation
Collection of Direct Tax rises to 13.6% after demonetisation move on 8th November 2016
Finance Minister Arun Jaitley declares that post demonetisation it has been an increase in direct taxes by 13.6%
Finance Minister also declared that sowing of rabi crops has also increased by 6.3% as compared to the last year 2015.
Growth in indirect taxes were also witnessed at 26.2%
Not only direct taxes but indirect taxes has also increases in fast speed as will 30th November a net increase in indirect taxes by central government has increased by 26.2%.
The growth of Indirect taxes includes increase of 45.5% in excise duty, 25.7% in service tax and 5.6% in custom duty.
Finance Minister Arun Jaitley also stated that gross direct tax has increased at a rate of 14.4% over last year while the growth rate of last year was 8.3%.
