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Digital technology has changed India's tax system, 474% increase in refund; Now money is being received in just 17 days
Tax: Digital technology has made India's tax system more transparent and faster, due to which taxpayers are getting refunds sooner and more than ever before. Tax refunds have increased by 474% in the last ten years, while the average refund issuance time has come down from 93 days to just 17 days. Finance Ministry sources gave this information.
Digital technology has revolutionized India's taxation system, thanks to which tax refunds have surged by 474 percent. Sources in the Finance Ministry indicated that there was a large shift in India's taxation system over the past decade. The pace of tax refund has increased almost twice as fast as tax collection.
Sources said that between 2013-14 and 2024-25, taxpayers have received refunds, there has been a tremendous increase of 474 percent. This amount has increased from Rs 83,008 crore to Rs 4,76,743 crore.
The gross direct tax collection has risen by 24 per cent during the same period, from Rs 7,21,604 crore to Rs 27,02,974 crore. Most significantly, the time taken for the tax refund process has also decreased tremendously. In 2013, the time taken for obtaining a tax refund averaged 93 days, which has reduced to a mere 17 days in 2024. This reflects a decrease of 81 per cent, evidence that the digital modernization is a success
