New Delhi: India's gross tax collections soared to a record high of Rs 27.07 lakh crore in the fiscal year ended March 31, led by impressive growth in corporate tax and customs, taking the tax-to-GDP ratio to an over two-decade high of 11.7 percent, Revenue Secretary Tarun Bajaj said on Friday.

Reflecting buoyancy in the economy and the impact of anti-tax evasion measures, direct tax collection rose by a record 49 percent to Rs 14.10 lakh crore, while indirect taxes posted a growth of 20 percent to Rs 12.90 lakh crore.

"A lot of technology is being used where GST figures are now being matched with income tax figures and compliances are being ensured. So all these have resulted in better compliance and better revenues both in direct and indirect taxes," Bajaj told reporters here.

The tax-to-GDP ratio in 2021-22 jumped to 11.7 percent - the highest since 1999. In 2020-21 fiscal, the ratio was 10.3 percent.

"The direct taxes are more than indirect taxes (in 2021-22) and I hope this trend will continue in the coming years," Bajaj added.

He said the overall Tax-GD tax buoyancy showed a healthy, robust figure highest. The tax buoyancy came in at about 2, which means the rate of growth in tax collection was around twice as fast as nominal GDP growth.

A Gross tax collection of Rs 27.07 lakh crore from April 2021 to March 2022 has exceeded the budget estimate by Rs 5 lakh crore. The total mop-up was 34 percent more than the Rs 20.27 lakh crore collected in the 2020-21 fiscal.

Direct taxes, which comprise income tax paid by individuals and corporate tax, came in at Rs 14.10 lakh crore, a growth of 49 percent over the last fiscal, which Bajaj said was perhaps the highest growth rate in a "long time".

Corporate taxes grew 56.1 percent to Rs 8.58 lakh crore, while personal income tax collection jumped 43 percent

In indirect taxes, while customs collection zoomed 48 percent to over Rs 1.99 lakh crore, CGST and cess mop-up soared 30 percent at Rs 6.95 lakh crore. Excise collection, however, dipped 0.2 percent to Rs 3.90 lakh crore during 2021-22 fiscal. Asked about the prospects, of tax collection in the ongoing fiscal, the Secretary said the figures have been

provided in the Budget and it may not be possible to repeat such a high growth rate in the current financial year

Bajaj further said it might be cult to achieve the budgeted customs collection for the current fiscal as it may not be possible to fully restore the import duty on edible oils and pulses because of the rising prices.

The government had reduced the customs duty on edible oil and pulses the last fiscal with a view to containing spiraling domestic prices.

Direct tax collection for the 202 23 fiscal, which began on April 1, has been pegged at Rs 14.20 lakh crore. This includes Rs 7.20 lakh crore in corporate taxes and Rs 7 lakh crore from personal income tax.

Indirect tax collection has been projected at Rs 13.30 lakh crore. This includes Rs 2.13 lakh crore from customs, excise collection of Rs 3.35 lakh crore, and CGST and cess of Rs 7.80 lakh crore.

Source-PTI