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What is Local Body Tax?
Local Body Tax or LBT is the tax which will be imposed by
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civic bodies on the entry of goods into a local area for
consumption, use or sale therein.
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However, unlike in the octroi regime, trucks carrying goods
will not be subjected to physical checking at check posts. But
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the trader himself has to pay the tax once every 40 days
using online portals, cheque, demand draft or cash through a
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designated bank or counters of the civic bodies.
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Who is liable to pay?
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Any trader with a turnover of purchases and sales is not less
than Rs. 5000/-. It can include the local pan wala and even
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the local grocery shops.
What does it replace?
It is going to replace the Octroi taxation charged by the local
government. Chief minister Mr. Prithviraj Chavan announced
in the assembly that introduction of Local Body Tax is likely to
considerably ease traffic at all entry points in cities like
Mumbai, Thane, Pune and Nagpur as trucks won't have to
halt at check posts for inspection and Octroi payment.
How does it work?
All the traders will have to keep a complete list of all the
goods produced with a month in a software. provided by the
civic body. It will check their LBT liability so they can pay their
Local Body Tax. The payment will have to made once in 40
days through online portals, cheque, demand draft, or cash
through a designated bank or counters of the civic bodies.
Source For?
The Local Body Tax will be the main source of Income for the
Civic Bodies.
For more information on Local Body Tax and other Important
Tax Consultancy Please contact us to get an instant help
Contact Person;
Mr. Ganesh Singh Yadav (B.com, M.Com, MBA)
Phone: 9619875086 / 8879154993
E-mail: ganesh@localbodytax.com
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Vryom Consultancy
Tax Expert — LBT, Service Tax, Excise, TDS , Vat & Income Tax
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Specialization On LBT
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Specialization On LBT
To contact us:
Phone: 9619875086 / 8879154993
E-mail: ganesh@localbodytax.com
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Vryom Consultancy
Tax Expert — LBT, Service Tax, Excise, TDS , Vat & Income Tax
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Leading Tax Consultant in Mumbai, India
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Specialization On LBT
Is Tax Calculation is Hectic
Job For You?
To contact us:
Phone: 9619875086 / 8879154993
E-mail: ganesh@localbodytax.com
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Vryom Consultancy
Tax Expert — LBT, Service Tax, Excise, TDS , Vat & Income Tax
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About Us
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Mr. Ganesh Singh Yadav (B.Com. M.Com, MBA)
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Phone: 9619875086 / 8879154993
Specialization On LBT
Email: ganesh@localbodytax.com
Malad, Mumbai
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Vryom Consultancy
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Tax Expert — LBT, Service Tax, Excise, TDS , Vat & Income Tax
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To contact us:
Phone: 9619875086 / 8879154993
E-mail: ganesh@localbodytax.com
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