Data on direct tax collection from Gujarat reported the gross and net tax collections increased by 23% and 19%, respectively, year over year in the financial year (FY) 2022–23 compared to the FY 2021–22. The numbers were higher than the national average of 20% and 18% respectively. Compared to net collection of direct taxes of £6.98 billion in the FY 2021-22, the collection went up by 19% to £8.29 billion in FY 2022-23.
Officials from the state income tax department reported a significant increase in corporate tax collections. It increased by 25% to £4.12 billion in FY 2022–23 from £3.29 billion in FY 2021–22. In advance tax collection too the corporate sector performed well; the collection increased by 22% from £2.20 billion to 2.70 billion in the same period.
According to officials, it was also one of the highest increases in the state's refunds, which increased by 51% to reach £1.53 billion in FY 2022–23 from £1.01 billion in FY 2021–22. The state recorded a 13% increase in total tax revenue and an 11% increase in advance tax payments from individual taxpayers.