Service tax collection jumps 25 pc in Mumbai zone till May

The Mumbai zone of service tax department has reported 25% growth in tax collection at Rs 10,873 crore in April-May this year.

Service tax collection from the zone was at Rs 8,710 crore in the same period in 2015.

The Mumbai zone was given a target of collecting Rs 10,606 crore during the first two months but the collection has exceeded it by 2.5%, sources said.

For the full year, the Mumbai zone has been given a revenue collection target of Rs 76,300 crore. Past financial year, the zone had collected revenue of Rs 68,714 crore.

Thus, the actual increase of target for the zone over last fiscal's revenue collection is Rs 7,586 crore, showing an increase of 11%.

 
Revenue collection by the zone as of May end represents 14.25% of the whole year target.