(a) the details of taxes which are solely to be collected by the Union Government;
(b) the details of target for central taxes to be collected from 1st April, 2020 to 31st March, 2021, tax-wise;
(c) the amount of central taxes which have been collected till 31st December, 2020; and
(d) the amount of central taxes which are shared/ divided between the Centre and the State Governments including the details of distribution?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI ANURAG SINGH THAKUR)
(a): The taxes which are solely collected by the Union Government are as under:-
Direct Taxes
Corporation Tax, Income Tax, Other Taxes in Income & Expenditure, Wealth Tax, Security Transaction Tax and Other Tax and Duty on Commodities & Services.
Indirect Taxes
Central GST, Union Excise Duty on petroleum products & tobacco and Custom duties. Out of these, levy and collection of Union Excise Duty on products outside GST and Custom Duty is done solely by the Union Government. However, under the GST, both the Union and States have concurrent powers to levy and collect tax.
(b): The tax-wise target for central taxes to be collected from 1st April, 2020 to 31st March, 2021, tax-wise is as under:-
Direct Taxes (Rs. in Crore)
Major Head Revised Target
Corporation Tax 4,46,000
Taxes on Income 4,47,000
Security Transaction Tax 12,000
Indirect Taxes (Rs. in Crore)
Major Head Revised Estimate
Custom Duty 1,12,000
Union Excise Duty 3,61,000
Service Tax (arrears) 1,400
Goods and Services Tax including CGST,IGST & Compensation Cess 5,15,100
(c ): The details of amount of central taxes which have been collected till 31st December, 2020 ( for financial year 2020-21) is as under:
Particulars Net Collection (Rs. in Crore)
Direct Taxes 6,20,529.14
Indirect Taxes 7,12,231.78
(d): The releases of States’ Share/Tax Devolution is as per the accepted recommendations of Finance Commission for its award period. The State-wise details of States’ share and releases is as per Annexure.
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