Mumbai zone passes service tax collection target

The Mumbai zone of service tax department has not only exceeded revenue from service-tax collection as on December 31 in the current financial year as compared to the corresponding period a year ago, but also surpassed the target given to it by the government for the nine-month period.

Revenue collection from the Mumbai zone during April-December stood at Rs 58,676 crore, up Rs 11,331 crore, or 23.9 per cent, from the year-ago's collection of Rs 47,345 crore, according to service tax department data.

Moreover, the zone has surpassed the government-set target for the period by Rs 4,725 crore, or 8.8 per cent, for the reporting period.

The government had given a revenue collection target of Rs 53,952 crore to be achieved till December-end. The zone collected revenue of Rs 58,676 crore during the period. For the entire current financial year, the Mumbai zone has been given a revenue collection target of Rs 76,300 crore. The increase of target over last financial year's revenue collection is Rs 7,586 crore, a rise of 11 per cent, the data showed.

The zone has done well in service tax collection during December, too. Last month, it collected revenue of Rs 7,614 crore, up Rs 969 crore from the year-ago's Rs 6,645 crore, the data said.