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
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Agree with Pradeep Agarwal & S C Kapur.The Chori is being done systematically under the garb of a single chapter in one Finance Act, the Finance Act,1994. What was introduced as an experiment in 1994, has been converted into a full-fledged loot, aka tax, very discreetly and slowly, so that people do not cry foul. There is no separate law like Income Tax; therefore it need not be discussed in Parliament; after all Budget has to be passed every year.There is no separate Secretariat to collect it. Central Excise Department can do it surreptitiously with its old Danda. Yes, post 1994 it is the root cause of Inflation and the fall in the Indian Rupee. Thank you Dr. Manmohan Singh.
Can see Govt. is the biggest Chor, can see in Oil rates calculation also.
Who will analyse Service at time of 1994-95 20 year back and after 20 years its more than 500 time item added to service tax so it is not justified that it increase to 300 time…
Increase in Service Tax collection and widening its base is the root cause for inflation.