Feb service tax mop-up jumps 44%

The government’s stern warning to service tax evaders appears to have yielded results with the realisation rising to Rs 10,453 crore in February, 44 per cent more than collections in the previous month.

The revenue department had collected only Rs 7,255 crore as service tax in January.
“Repeated warnings from the revenue department is showing results. The service tax collection has shown a significant 44 per cent rise in February,” a senior finance ministry official said.

Customs duty collection also witnessed a 15 per cent growth at Rs 15,007 crore in February, as against Rs 11,406 crore collected in January, the official added. Excise mopup stood at over Rs 15,000 crore in February, taking the total indirect tax collection during the month to Rs 41,000 crore.

In a stern warning to excise, customs and service tax evaders, Revenue Secretary Sumit Bose had in January asked them to either pay the dues or face penal action which could include arrest, prosecution and property attachment.

“We are keeping a very close watch on such elements. They are advised to come forward and pay all taxes and avail of the benefit of reduced penalty,” Bose had said.

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