Corporation tax fell by 20 per cent, personal income tax by 37 per cent, and Union excise duty by 21 per cent. Only central goods and services tax (CGST) escaped the fall by a huge margin, while Customs duty collections managed to inch up. CGST rose by 13 per cent and Customs duty by 1.5 per cent.
In cumulative collections during the first five months (April-August) of the current financial year 2026-27 (FY27), only Union excise duty receipts fell. The fall was steep at 22.5 per cent due to cuts in petroleum rates.
Overall tax collections rose 6.5 per cent during April-August against the Budget projection of 9 per cent for the whole of FY27.
