Revenue from service tax has grown by over 300 times in past two decades. According to provisional figures therevenue from service tax touched about 1.32 lakh crore rupees in 2012-13, compared to 407 crore rupees earned in 1994-95, when service tax was introduced.
The number of assessees have also gone up by over 400 times during this period. The total number of taxable services has also increased, from 3 in 1994, to 119 in 2012.
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