30.5% growth in service tax is achievable: CBEC Chairman [27 Mar 2012]

By admin March 27, 2012 5:47 am IST

In an attempt to reduce fiscal deficit, the government has targeted the revenue through service tax of Rs. 1,24,000 crore during FY 2013; a huge 30.5 per cent increase vis-à-vis the budgeted FY 2012 estimates. The Central Board of Excise and Customs (CBEC) is quite optimistic of meeting the same target, despite indications to the contrary due to faltering industrial activity and the resultant general gloomy corporate sentiment.
The CBEC is also hopeful about achieving the indirect tax target. “We have achieved 14.6 per cent growth till February, which is 89 per cent of the total target,” CBEC Chairman S K Goel told the media persons during a post budget interaction organised by FICCI on 24th March in Mumbai. Several senior officials from the Finance Ministry interacted with industry representatives and took note of their concerns. The interactive session was chaired by Ramu Deora, Chairman, Foreign Trade & Trade Facilitation Committee, FICCI.

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