LBT: Going gets tough for civic body, only Rs 1.71 lakh in 3 days

May 04 2013, 01:56 IST
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SummaryOnly three traders have submitted local body tax (LBT) amounting to Rs 1.71 lakh in the first three days of collection, indicating that the Pune Municipal Corporation (PMC) administration is likely to have a tough time implementing the new tax regime, the major revenue source for the civic body which replaced octroi on April 1.

Only three traders have submitted local body tax (LBT) amounting to Rs 1.71 lakh in the first three days of collection, indicating that the Pune Municipal Corporation (PMC) administration is likely to have a tough time implementing the new tax regime, the major revenue source for the civic body which replaced octroi on April 1.

Octroi for the month of April has to be submitted latest by May 20. As per the rules traders have to pay LBT every month on goods brought into the the civic jurisdiction the previous month. The date for depositing LBT was earlier set as on or before the 10th of every month but was extended to the 20th of every month after the agitation of traders.

“Traders have to pay LBT on goods they bring from outside civic jurisdiction in April by May 20. Those not paying the tax on time will be charged 2% interest every month,” said Vilas Kanade, the official who is in charge of LBT at the PMC. He said the PMC has data of traders operating in the city and after May 20 it would be clear who are following LBT rules.

The PMC has tied up with HDFC, ICICI, Yes Bank and IndusInd Bank for collection of LBT. “Traders can approach branches of these banks and pay taxes on time to avoid any action,” Kanade said adding LBT can also be paid through the online facility at www.pmc.mahalbt.com.

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