The revenue department expects to mop up more than Rs 4,000 crore from service tax in the current financial year. This is about Rs 1,800 crore or 82 per cent higher than the revised estimate of Rs 2,200 crore under the head during 2000-01.
Top revenue officials told Business Standard that the new services which were brought under the 5 per cent tax bracket from July 16 this year, offered great potential for a decent mop-up.
