Jalandhar (Punjab): After a revenue collection of Rs 800 crore from service tax in the fiscal year ended on March 31, the zonal chief of Central Excise and Customs today marked a target of Rs 1,000 crore.

"Out of total collection of Rs 800 crore, Rs 500 crore was collected from Punjab only and rest of the amount was collected from the other states including Himachal Pradesh, Jammu and Kashmir and Union Territory of Chandigarh," said D S Sra, adding that the department expects a collection of Rs 700 crore from Punjab alone.

He was speaking in a seminar on Service Tax organised by at the Northern India Regional Council of The Institute Chartered Accountants of India. He said the collection through Central Excise was Rs 1,550 crore which is expected to reach the figure of Rs 1,750 crore as industries in Jammu Kashmir, which used to get 100 per cent refund for the excise duty earlier, would be paying it from this fiscal.

Giving details of collection of Customs duty, Sra revealed that last year it was Rs 800 crore and this year the target has been set at Rs 1,000 crore owing to the increase in import in the region and more tax amid rise of rupee's value against the US dollar.
Source : PTI