Government lost Rs 1 lakh crore in taxes in FY'21 due to corporate tax cut, says MoS Finance https://economictimes.indiatimes.com/news/economy/finance/government-lost-rs-1-lakh-crore-in-taxes-in-fy21-due-to-corporate-tax-cut-says-mos-finance/articleshow/102544590.cms
In February, the Minister had informed Parliament that the revenue loss in 2019-20 fiscal due to reduction in corporate tax rate from 30 per cent to 22 per cent was Rs 1,28,170 crore.
As per the corporate tax collection data shared by Chaudhary, in fiscal 2022-23 the provisional revenues stood at over Rs 8.28 lakh crore, higher than over Rs 7.12 lakh crore in 2021-22.
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