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Wednesday, Dec 07, 2005


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Industry & Economy - Taxation

Service tax collections on target

Our Bureau

Bangalore , Dec. 6

THE Centre's service tax collection in the first eight months of the current fiscal were Rs 11,988.24 crore. Mr K.P. Singh, Director General, Service Tax, Central Board for Excise and Customs, said here on Tuesday that the collections were on target. He said, "The service tax collections are in line with expectations. The growth rate is 69.67 per cent. At this rate we will overshoot the target by a very comfortable margin."

He said that the government expected to exceed the target by at least 20 per cent. "We reach the target by February this year and the rest will be bonus," he added.

According to Mr Singh, a considerable amount of service tax revenues in Bangalore remained unpaid due to misconception and doubts among 36,000 service tax providers. "We are focussing our attention on recovering unpaid service tax. For that we are augmenting our anti-evasion machinery by diverting additional staff. Similarly, the local staff of the Director General, Central Excise Intelligence, has also been augmented for detecting the unpaid service tax from the area," he said. "Our intention is to rely on service providers, to trust them and believe them and we hope that they reciprocate the trust," he added.

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