• Dec
  • 26
  • 2013

Over 300 times increase in service tax revenue in two decades

Article ID 59343 | Posted In Service Tax | | 5 Comments » Print Friendly and PDF

Revenue from service tax has grown by over 300 times in past two decades. According to provisional figures the revenue from service tax touched about 1.32 lakh crore rupees in 2012-13, compared to 407 crore rupees earned in 1994-95, when service tax was introduced.

The number of assessees have also gone up by over 400 times during this period. The total number of taxable services has also increased, from 3 in 1994, to 119 in 2012.

Source- News on Air