Those That Got Away

Updated on: 7 February 2024 6:09 pm

Those That Got Away

Tax revenues foregone by the government	(in Rs crore)

On various incentives and deductions for export and profit in industry	57,852
On cooperative banks and societies	1,534
On IT benefits for individual taxpayers	11,695
On excise exempt for SSIs	11,316
On excise exempt for fertiliser firms	4,000

The government foregoes huge amounts of tax because of various exemptions and incentives for direct and indirect taxes. This year the budget has quantified them in the receipts budget.