Service Tax brings more money to government

Visakhapatnam, Apr 7 (UNI) Service Tax, which was Rs 38,000 crore in the 2006-07 fiscal, was the major source of revenue to the government, Central Board of Excise and Customs, Commissioner of Service Tax Gautam Bhattacharya said today.

Addressing a seminar on central excise, customs and service tax organised by Tax Law Research Group here, he said the government plans to collect over Rs 50,100 crore as service tax during 2007-08.

Mr Bhattacharya said the Centre had sanctioned clearance to recruit 2,000 employees to deal with shortage of manpower.

He said the department would tighten the scrutiny of returns, periodical audit reports and anti-evasion methods through market intelligence.

UNI