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India's service tax revenue is estimated to be flat at Rs.65,000 crore ($13.4 billion) this fiscal, Finance Minister Pranab Mukherjee said Monday while presenting the budget for 2009-10 in the Lok Sabha.
The revised estimates of the service tax revenue for 2008-09 stands at Rs.65,000, while the government earned Rs.51,301 crore from the tax in 2007-08.
While Mukherjee brought the law firms/lawyers offering advice to non-individuals under the service tax net, relief has been provided to exporters.
The tax was first introduced in 1994-95 by the then finance minister Manmohan Singh on three services - telephone, general insurance and stock broking.
Over the years, not only the tax ambit, but also the tax also went up, helping the government fetch handsome revenues.
Last updated on Jul 6th, 2009 at 17:56 pm IST--IANS
A benchmark index for Indian equities closed a modest 29 points up Thursday on what was a rather dull day of trade.
Maoist guerrillas Thursday blew up an electricity tower in East Singhbhum district of Jharkhand, cutting off power supply to many parts of the state, police said.
Leading Bollywood studios such as Reliance Big Entertainment, Yash Raj Films, UTV Motion Pictures, Eros International and Studio 18 have joined hands here Thursday with the Motion Picture Association of America (MPAA) to set up an anti-piracy coalition.
B.S. Meena was Thursday appointed secretary, department of of heavy industries.
Sudha Murthy, trustee of the Infosys Foundation, gave "perfect shots" for the Kannada film "Prarthane", her first film role, says director Sadhashiva Shenoy.
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