Top 100 firms pay 18.7% more advance tax

But some large corporates like State Bank, Grasim Industries, ACC, Ambuja Cement, Siemens, Deutsche Bank, Barclays Bank, and Bank of America, paid less tax to the exchequer compared to the year-ago period, according to finance ministry sources.

ONGC, has paid the highest tax at Rs 1,093 crore, up 24.20 per cent from Rs 880 it had paid in the first quarter of the last fiscal. Reliance Industries’ tax outgo stood at Rs 653 crore this quarter, more than double the Rs 314-crore it had paid in the same period last fiscal.

This is followed by SBI which has paid Rs 869 crore, which is a steep 18.63 per cent less than Rs 1,068 crore it had paid in Q1 last fiscal. However, it comes up as second largest tax payee.