Finance minister P. Chidambaram Wednesday said the government will achieve its budgeted revenue target for the current financial year.
"In 2012-13, we achieved 21 percent increase over the previous year's collection. With economy expected to grow certainly higher than 5 percent, I think with growth close to 6 percent, we should be able to collect 19 percent more than last year," he said.
The finance minister was inaugurating the 28th conference of chief commissioners and director generals of the Central Board of Excise and Customs (CBEC).
The government plans to mop up around Rs.13,300 crore as direct taxes and Rs.4,700 crore as indirect taxes this fiscal.
The minister also said that the revenue department will take a close look at the 12 lakh service tax assessees who have stopped filing returns.
The government expects to garner Rs.1.8 lakh crore through service tax this fiscal.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app