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Govt has collected 96.6 pc of service tax target for '09: CBEC
May, 09th 2009

Amid dwindling overall tax figures, the government is on its way to achieve the service tax target for 2008-09.

The government has collected over 96 per cent of the targeted service tax during 2008-09, Central Board of Excise and Customs member Rakesh Sharma said, adding some more is expected.

"It (service tax collection data) is trickling in,"he said at a seminar organised by PHD Chamber of Commerce here.

When asked whether the reduced service tax rate would be reverted back to 12 per cent from 10 per cent, Sharma said the decision will be taken by the government which comes to power.

While estimates for various taxes were lowered, service tax was projected to rise up to Rs 65,000 crore as per the revised estimates against Rs 64,460 crore in budget estimates for 2008-09.

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