Good news for the Government and common men! This time there are indications of Positive economic sentiment in the market that shall ultimately result in the welfare of the people of the country.
The direct tax
The minister while replying to the aforesaid question said that the direct tax collection in the first quarter of financial year 2021-2022 was Rs 2,46,519.82 crore in comparison to Rs. Rs 1,17,783.87 crore during the first quarter of the previous Financial Year 2020-21.
The minister further added that it indicates the revival of the economic activities and the positive economic sentiment among the taxpayer.
When questioned about second quarter the minister added that the stakeholders have to wait for some time. Coming to Indirect Tax (Including GST and non GST), the net Indirect Tax collection in the first quarter of the FY 2021-2022 is Rs 3,11,398 crores.
Responding to the status of ‘Vivad-se-Vishwas Scheme
To sum up, the economy is recovering from the shock of Covid pandemic and the higher tax collection shall enable the government to run welfare programmes thus benefitting the common man.