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Service tax budgeted at Rs.689 bn for 2009-10

February, 17th 2009
The government hopes to earn around Rs.689 billion (Rs.68,900 crore) under the head service tax in 2009-10. It is the fifth largest tax revenue head for the government after the major heads like corporation tax, income tax, customs and excise. The revised estimate for the current fiscal was put at Rs.650 billion (Rs.65,000 crore) in the interim budget for 2009-10, which was presented in the Lok Sabha Monday by External Affairs Minister Pranab Mukherjee.