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K.R. Srivats

New Delhi , Sept. 9

SERVICE tax collections of the Centre have surged by 72.61 per cent during the first five months of the current fiscal.

Official sources said that the total service tax collected by the Centre during the April-August period stood at about Rs 4,141 crore against Rs 2,399 crore during the same period last year.

In August, the service tax collected by the Centre stood at Rs 725 crore, compared to Rs 569 crore earlier.

However, it was lower than Rs 1,040 crore collected in July 2004.

In the Budget for 2004-05, the Government estimated service tax collection of Rs 14,150 crore for the current fiscal on the back of expanded service tax net and increased service tax rate.

Besides bringing 13 more services under the net, the Finance Bill 2004 has proposed an increase in the rate from eight per cent to 10 per cent.

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