Direct tax collection sees dismal growth; mid-August mop-up growth under 5%

Marred by an economic slowdown, direct tax collections have seen dismal growth so far in the current fiscal year, with the mop-up growing by under 5 per cent till mid-August.  With glaring signs of a slowdown visible across the consumer durables and non-durables segments, tax officials appear underconfident of achieving the growth target of 17.3 per cent set for 2019-20 in the Budget, presented last month.  Till August, direct tax mop-up grew by just 4.69 per cent, net of refunds, and 5.69 per cent on a gross basis. Refunds grew by 8 per cent during this period.  .....

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