Refunds, advance tax dip: Net direct mop-up down 1.4% to Rs 4.6 Lakh crore

Gross direct tax collections saw a modest increase of under 5% up to June 19, with advance tax receipts growing at a muted 3.9%, signaling potential concerns about corporate profit growth. Net direct tax collections dipped slightly due to a significant surge in refunds, reflecting the finance minister’s push for quicker disbursal.