Revenue Department to target 12 lakh service tax non-filers: FM

Revenue Department to target 12 lakh service tax non-filers: FM The Revenue Department of the Finance Ministry will target 12 lakh service tax assessees who are not filing returns, Union Finance Minister P. Chidambaram said on Wednesday.

During the financial year 2013-14, the Finance Ministry aims to collect Rs 5.65 lakh crore in indirect taxes, comprising customs, excise and service tax.

Mr. Chidambaram said that he was confident that with the economy expected to achieve a grow rate of around 6 per cent, the Revenue Department would be able to achieve its target of year-on-year 19 per cent rise in indirect tax collection in the current financial year.

Speaking on the topic, he said, "With economy expected to grow certainly higher than 5 per cent... I think with growth close to six per cent, we should be able to collect 19 per cent more than last year."

The Minister was speaking to reporters after inaugurating the 28th conference of top executives of the Central Board of Excise & Customs (CBEC).

Service tax accounts for around 33 per cent of the country's total indirect tax collection. During the current financial year, the ministry aims to collect Rs 1.8 lakh crore through service tax.