Tuesday, December 31, 2013

Traders not issuing original bills face LBT action

The dealers and traders not issuing original bills to customers have started to face the music. The Nagpur Municipal Corporation (NMC) has conducted raids on seven dealers in last three days for local body tax (LBT) evasion and not issuing original bills to customers. NMC's LBT department has also warned businessmen eligible under LBT norms to avoid violations of the rules.

The department's team led by assistant commissioner (LBT) Mahesh Dhamecha conducted the searches.

Read more ...

Tuesday, December 24, 2013

NMC to seek govt's view on LBT exemption for export units

The Nashik Municipal Corporation (NMC) has decided to seek government's guidance on exempting export oriented units (EOUs) in the limits of the municipal corporation from the local body tax (LBT). The civic body sent a letter to the state government in this regard.

There are around 20 EOUs within the NMC's jurisdiction. Industrial associations such as Nashik Industries and Manufacturers' Association (NIMA) and Ambad Industries & Manufacturers' Association (AIMA) have urged the NMC to exempt EOUs from LBT.

An NMC official said, "We generate revenue of around Rs 1.5 crore through taxes from the EOUs in Nashik. As per government rules, LBT is to be levied on sale, use and counter sale of products. There is no clarity in the rules pertaining to tax exemption to EOUs. So we have decided to seek government guidance on the issue.The decision pertaining to tax exemption will be taken as per their instructions of the government."

AIMA president Suresh Mali said, "There are around twenty 100% EOUs at Ambad and Satpur industrial estates of Maharashtra Industrial Development Corporation (MIDC). The NMC should provide tax exemption to such EOUs to promote export, but it's not happening. During our meeting with municipal commissioner Sanjay Khandare, we had urged him for tax exemption to EOUs. But no decision has been taken yet."

Following the state government's directives, LBT came into effect in the limits of the NMC from May 22 this year, replacing the previous octroi . Around 23,500 traders and industrialists have been registered with the LBT.

There are around 3,500 small, medium and large industrial units in Satpur and Ambad industrial estates of the MIDC, located in the jurisdiction of the NMC. The civic body earns 60% of its total revenue through taxes from the industries.
Read more ...

Friday, December 20, 2013

LBT Raid on 2 Shops in Mall

The Thane Municipal Corporation (TMC)'s local body tax (LBT) officials have now started cracking the whip on defaulters from shops located in malls across the city. They have so far conducted raids on shops located in old market areas of Thane.

On Friday, LBT officials, led by deputy municipal commissioner Dilip Dhole, conducted a raid on showrooms belonging to multi-national brands like Adidas and Reebok stores at two of Thane's popular malls.

''We raided Reebok stores as they defaulted on payments to a tune of Rs 6 lakh. Since the enforcement of LBT, both the Reebok branches have not being paying their dues,'' said Dhole.

He added, ''Adidas showrooms were also under the scanner of the LBT department. As both the outlets are new it is difficult to calculate the default amount. But both have obtained LBT registration certificates.We will fine them and take action against them.''

Expanding its base from confined old market area to industrial zone, now Thane Municipal Corporation's (TMC) local body tax officials have targeted posh malls in the city to crack the whip on defaulters.

On Friday, LBT officers led by deputy municipal commissioner Dilip Dhole conducted raid on multinational brand showrooms like Adidas and Reebok at Korum and Vivian malls.

"We have raided on Reebok shops at both Korum mall and Vivian Mall on Friday evening for default payment of LBT to a tune of Rs 6 lakh. Since the enforcement of LBT in the city Reebok show rooms in both the malls have not paid LBT dues after being registered under this new levy," Dhole told TOI on the sidelines of Friday raid.

He further added that "Adidas showrooms in Korum and Viviana were also under the scanner of LBT department. Though both the outlets are new it's premature to calculate the default amount now. But both have obtained the LBT registration certificate. We will screw them with appropriate recovery including fines, interest and penalty."

Till date, TMC has recovered Rs 3 crores from regular raids. since early October and 62 shops and industries came under the fold for flouting LBT rules.

Now, the TMC is planning to move beyond old city to Kalwa, Mumbra and Diva from where collection amount was received a paltry. The TMC is waiting to add more staff into its existing fleet. "We are yet to calculate the pending levy from all raided stores to slap them demand notice for payment. The raid will be a regular feature now as we are falling short of our set target of Rs 600 crores till March 31, 2014. We have just achieved the half way mark with Rs 315 crore including LBT, stamp duty and escort."
Read more ...

Friday, December 13, 2013

Godown Queries

This post shall discuss and attempt to solve all the queries relating to LBT (Local Body Tax) in case a person has a Godown in a Non LBT area but purchase bill contains address of main office, which is in LBT area.

When I say "LBT area" I mean within city limits where LBT is applicable.

  • Q - Whether LBT is payable if Address of bill is of Main Office, but goods delivered to Godown?
  • A - No, LBT is not payable. LBT is payable only if goods physically enters the city (except Rule 20, which is not applicable in current discussion). But a dealer will have to prove that goods has not entered city.

  • Q - LBT payable? if Godown address is not mentioned in Invoice?
  • A - Yes, as there is no proof of goods being delivered at godown

  • Q - So, what proof has to be kept for proving goods have been received at Godown and not at Main Office
  • A - Invoice should contain address of Godown, Attach delivery challan to Invoice, Keep copy of lorry receipt.

Read more ...

Tuesday, December 10, 2013

Revised Local Body Tax proposal

Revised Local Body Tax proposal to be sent to state govt

The Navi Mumbai Municipal Corporation (NMMC) will submit the draft of the revised Local Body Tax (LBT) to the state government in three weeks for its approval.

"After discussing the existing tax structure with the traders' community and other concerned parties, the civic body's tax (cess) department has prepared a revised LBT proposal which has reduced a certain slab of the LBT," said Sudhir Cheke, deputy municipal commissioner (Cess).

He added that all the points raised by the mercantile community representatives and suggestions given by guardian minister Ganesh Naik have been taken into consideration while drafting the revised proposal.

He also said that the draft will be tabled before NMMC commissioner Abasaheb Jarhad for any final changes and then forwarded to the state government for its approval. "The process will be completed in three weeks," Cheke said.
Read more ...

Friday, December 6, 2013

New LBT Rates for Thane

LBT Rates for thane has changed. (Rates Scanned copy below)

The new LBT Rate schedule makes amendments for many goods or category of goods. For example -
  • Charcoal and Badami Charcoal
  • Cotton
  • Ice including dry ice.
  • Industrial inputs and packing materials
  • Desi Ghee, Loni, All kind of fats
  • Iron and steel,
  • News print
  • Articles of personal wear, clothing accessories, 3.50%
  • made up textile articles
  • goods of wool & silk cloth
  • Spices including cumin seed, hing
Apart from these goods, the rates for Petrol, Diesel has also been reduced. The new Rates are as bellow
  • High I Light Speed Diesel Oil - 2.00%
  • Aviation Turbine Fuel (Duty paid) - 2.00% 
  • Aviation Turbine Fuel (Bonded) - 2.00%
  • Aviation Gasoline (Duty paid) - 2.00%
  • Aviation Gasoline (Bonded) - 2.00%
  • Any other kind of Motor Spirit - 2.00%
Download New Thane LBT Schedule
Read more ...

Friday, November 22, 2013

I am Back

Hi Visitors,
I am back from my exam leave. [In case you have joined this blog late - I was on my CA Final Exam leave so there was no reply to answers or any post for 3 months]

So, here are some of the things which happened when I was at leave
  1. Some corporations have updated their LBT schedules (shall soon be posting all the new schedules)
  2. Builders payment scheme has been finalized by most corporations as to how will the area be calculated, when remaining payment of 50% has to be paid (Please also read point 1 no below)
Now here is the list of updated from my side
  1. I request all LBT consultants to post what has been followed by their corporations regarding area calculation and payment date (for builders), on LBT Group.
  2. I have now changed some settings (which even I didn't previously knew that these where available), which shall allow all members to post any query or any of their experience on LBT Group just by sending a email to localbodytax@googlegroups.com
  3. Due to some error (I don't who's error it was - Of Google's or Mine) the URL of Group has now been changed to -
    https://groups.google.com/d/forum/localbodytax
Read more ...

Monday, October 14, 2013

Important Information for Thane Builders

As per internal advisory letter of Thane Municipal Corporation (TMC) which we have come across, all builders and developers opting for "Lump Sum Payment Scheme" have to pay their LBT liability on or before 20th October, 2013. Payment made after this date will attract 14% interest (2% per month from April to October).

So, Visitors of this blog are advised in their own interest to expedite the payment of LBT. For payment calculations and Rates contact your LBT Consultant at earliest.

In order to make payment of LBT on "Lump Sum Payment Scheme" the builders are required to first obtain approval from LBT Department.
Read more ...

Tuesday, October 8, 2013

LBT Seminar by MCHI

A seminar was organised by MCHI (Maharashtra Chambers of Housing Industry) on 25th September, 2013 at Tip Top Plaza, Thane.

CA Ashok Madrecha (A Practicing CA from Thane) & Adarsh Madrecha delivered lecture on LBT (Local Body Tax) from builder’s perspective. This seminar was attended by prominent builders, developers, finance managers, Chartered Accountants from housing Industry.


All members present in the seminar actively participated, raised queries relating to LBT and Housing Industry. Both the speakers answered the queries and explained LBT Provisions in detail.


Prominent persons present at the seminar included

  • Shri Dilip Dhole (Dy Commissioner, LBT, Thane Municipal Corporation)
  • Shri Shailesh Puranik (Chairman), Shri Jitendra Mehta (Secretary), Shri Mukesh Savla (Founder Chairman)
Seminar was also attended by representatives from well-known builder groups including
  • Puraniks, Ashar, Rustomjee, Dosti, Cosmos, Regency, Arihant, Kalpataru, Soham and many more
CA Ashok Madrecha delivering lecture On Dice (from Left) - Jitendra Mehta (Secretary), Mukesh Savla (Founder President), Shailesh Puranik (President) from MCHI, and Dilip Dhole (Dy Commissioner, TMC)

Read more ...

Wednesday, September 25, 2013

LBT chared by Builder, Whether Right?

I have received many questions and queries regarding whether builders are allowed to charge extra LBT over and above the consideration for the house/ shop.

I had also explained this previously through comments on this post, but not so in detail, considering that many customers are being harassed by the builders by charging extra LBT over and above the agreement value, it become important that we all understand what is right and what is wrong.
If the builder asks you to pay LBT, take printout of this post and give it to builder. You can also translate it to any language before taking printout.

This discussion requires some maturity to think and also considers some ethics issues. So if you feel that there is no Ethics in business, then this discussion is probably not for you.

Read more ...

Tuesday, September 24, 2013

LBT Marathi Article

This article is shared by +Kishor Lulla for viewers of this blog





This (below )article was published in Phudhari 

Read more ...

Monday, August 26, 2013

New group for LBT discussion

I have created a new group on "Google Group" for discussion on matters related to LBT implementation, Registration, Explanation and interpretation of LBT Laws. More importantly also Rates discussion.

Visit - http://groups.google.com/group/local-body-tax.

Group embedded below

This group is kept open for all public to view. But only members can post and reply to the discussion. If you have already subscribed to the blog you shall get an invitation for joining this group and then you can join the group by clicking on the link in Invitation.
If you are familiar to discussions on "forums" then you will feel at home as this works exactly like any other forum works.

The Group, I believe, shall help LBT Consultants and Tax payers in discussing various issues on LBT.


Read more ...

Thursday, August 1, 2013

Exam Leave

Hi Visitors and users of this blog on Local Body Tax (LBT) 

There shall be no posting of any updates on this blog starting from 1st August 2013 to 25th November 2013, as I shall be on Exam Leave.

I seek your blessings for my CA Final Nov 2013 attempt and also like to thank subscribers, Visitors of this blog for their comments, Questions, Suggestions which helped in making this blog more useful and informative.

As a Thanks gesture I have mailed the subscribers of this blog Link to 3rd Edition of Local Body Tax Bare Rules 2013. The Subscribers as on 1st August has been mailed this book. If you have subscribed to this blog and then too have not received the book then
Read more ...

Tuesday, July 23, 2013

LBT Postponed in Mumbai

In a major relief to the trader community in the city, chief minister Prithviraj Chavan on Monday reiterated that the government will not introduce the Local Body Tax (LBT) in Mumbai from October 1.



Earlier, the government had set October 1 as the deadline to implement the new tax system in the city.

Leader of the opposition in the state legislative council Vinod Tawde, along with other legislators, had a meeting with Chavan over LBT in Vidhan Bhavan on Monday.

"The CM has assured legislators that the ruling DF government has no intention of bringing an ordinance to introduce LBT in Mumbai. He even assured the delegation that any decision on the new tax system will be taken only after a thorough discussion on the subject in both Houses of the state legislature," Tawde told the media after the meeting.

Read more ...

Sunday, July 21, 2013

Updated Links

I received request to have listed all the municipal corporations website's LBT (Local Body Tax) page. So accordingly the websites list has been complied
 and available on "All About LBT" Page.



Also the Challans section of "Download" Page has been updated. Some of the corporation have made it mandatory to use serial numbered challans, hence the challan has to be purchased form the respective corporation. those corporation who have made challans as a format to be used by anyone has been added to the list of challans.


Read more ...

Calculating the limit of turnover


Rule 4 – Calculating the limit of turnover for liability for registration. 

1.     For the purpose of calculating the limits of turnover for liability for registration,-

(a)  except  as otherwise  expressly  provided,  the  turnover  of all  sales or, as the  case  may  be, the turnover  of all purchases,  shall be taken into account whether such sales or purchases are of goods taxable under  the provisions of the Act and the rules or not ;

(b) the turnover shall include all sales and all purchases made by a dealer on his own account, and also on behalf of the principals mentioned in his accounts.

(c)  in the case of an auctioneer, in addition to the turnover, if any, referred to in clauses (a) and (b), the turnover shall also include the price of the goods auctioned by him for his principal, whether the offer of the intending purchaser is accepted by him or by the principal or a nominee of the principal if the price of such goods is received by him on behalf of the principal.

Read more ...

Saturday, July 20, 2013

The limits of turnover for registration


1.  The limits for  registration shall be,-
(a)  in the case of a dealer,  who is an importer and the value of all the goods imported by him during the year is not less than Rs. 1,00,000.
(b) in any other case, including the case where a dealer has not become liable to pay local body tax under clause (a), and the turnover of all  his sales and purchases during such year, is not less than Rs. 5,00,000.
2.     Notwithstanding anything contained  in sub-rule  (1), if a dealer  or a person not carrying  on a particular  business  in   the  City on a regular  basis,  carries  on business  in the  City in any year  on a temporary  basis, then  he shall be liable for temporary  registration  under  the provisions of the Act and these rules,   whether  or not he is liable under  sub-rule (1) of this rule
Read more ...

Wednesday, July 17, 2013

Starting LBT Flash Tutorials

From today we are starting "LBT Flash Tutorials"


Read more ...

Tuesday, July 16, 2013

Registration (Vedio)

Do you some times feel that it would be nice to have animation to make you understand the boring Rules and Regulations? So, here is your wish come true.

Watch this video on LBT Registration and get to know new provisions of Registration in Local Body Tax as updated by LBT Rules 2013.



Read more ...

Thursday, July 11, 2013

LBT Bare Rules - 2013

Launching a new book on Local Body Tax by Adi Publication - LBT Bare Rules 2013 (3rd Edition). This is first book to incorporate amendments made by LBT notification dated 20th June, 2013. 

This E-Book shall be very useful to LBT Consultants, Lawyers, Chartered Accountants. This new book on Local Body Tax an indispensable reference material for all those who are looking for a easy to understand LBT bare Rules with all amendments (up to 1st July 2013).


The amendments made in LBT Rules 2010 by LBT notifications 2012 and 2013 are highlighted and all the Rules are arranged, formatted and indented for ease of reading and understanding.

The Highlights of the book are -
Read more ...

LBT Bare Rules 2012

Launching Today Local Body Tax Bare Rules 2012.






































Read more ...

Wednesday, July 10, 2013

LBT Bare Rules 2010

Today launching a new book on Local Body Tax - "LBT Bare Rules". Enough of the bad formatted, difficult to read Rules which are available at the corporations website. This new book shall be updated from time to time and to enable the users of this book to remain ahead of the competition.



 This new book contains LBT Rules 2010 in nicely formatted presentations with beautiful fonts and logical indentation for Sub-Rules and Sun- Clauses.
Read more ...

Tuesday, July 9, 2013

LBT Bare Rules (Coming Soon)

The Local Body Tax Rules which are available on the net at various municipal corporation websites are outdated, even if you find the LBT Rules 2012 or 2013 these contains only the LBT amendments and thus making reading and understanding these already complicated rules even more difficult. But now no more.

"Local Body Tax Bare Rules" E-book is coming soon. This shall be free for those who have already purchased the Main Book - Local Body Tax (All that you need to know about LBT). This new book shall be launched very soon and shall be coming updated with new notification of LBT Rules 2013.

Read more ...

Monday, July 8, 2013

No checks, transit inspection at entry points

No checks, transit inspection at entry points for traders under LBT This Will Help Bring In Transparency In The Tax Net

In accordance with the state government's amended notification, transit inspection, obstruction of vehicles, checking of goods, detaining the occupants on road have become a thing of past. The concerned  urban development department (UDD) of the state government held back the power to sanction such orders to the top officials from municipal corporations on request.

The state government has amended the law recently, removing the earlier clause (26) of transit inspection at erstwhile octroi collection plazas under the new levy of Local Body Tax (LBT). Earlier, the law had a provision empowering
the municipal commissioner and his subordinate at the rank of deputy civic commissioner to stop vehicles for further check on transit system mainly at check posts which triggered resentment among the traders and residents. Bowing to constant pressure from the trading community, the state government enforced necessary changes for free access of motorists and residents at check posts. 
Read more ...

Saturday, July 6, 2013

Accounting Entries for LBT

I received some questions for what will be the accounting entries for recording LBT transactions in Tally or other accounting software.

There can be two ways to account for (depending upon how much time and human resources you have for accounting. 

1st Way - (Easy)

Take total of all purchases (including VAT, Excise), deduct the purchases on which LBT is not applicable. This shall give you the amount of taxable purchases. Apply the LBT rate applicable for your purchases and pass the following entry at end of every month (This entry thus shall be passed on 31st of March at the year end)

Local Body Taxes a/c      Dr
      To LBT Payable a/c

At the time of making payment of this amount next month (i.e on 20th of next month, pass the below entry.
Read more ...

Wednesday, July 3, 2013

Suggestions for LBT Changes

The following are the Suggestions for changes in LBT Law
  1. The implementation of LBT should be given to VAT authorities. All the provisions of MVAT should be made applicable to LBT. By this, assessment by two authorities will be avoided.
  2. For proper implementation of LBT, there should be a district level committee of trading Organizations, Tax Associations and consumer bodies under the chairmanship of Commissioner who should discuss to solve the common problems of traders, once in a month.
  3. The Rules are not properly worded. There is wide scope for discretion and interpretation.  Rates of LBT should be same in all Corporations. A State level committee should be formed to study the anomalies in the LBT Rules.
  4. One full day workshop of officers & traders to be arranged by the Commissioner for smooth implementation of LBT. Majority of the litigation have started due to lack of knowledge and misinterpretation.
  5. Details of Act, Rule, Schedule A (taxable goods), Schedule B (Tax free goods), Circulars, Internal Guidelines & decisions in appeal to be displayed on website. (Sec.152Q)
Read more ...

Changes in LBT Rules 2013

As posted earlier - LBT Rules 2013 Passed.

The following are the important changes in LBT Rules 2010 made by LBT Rules 2013. The changes in registration limits, refund procedure shall now be posted fresh after the changes made, so stay tuned to the website.

  1. Registration limits increased, earlier imported importing goods more than 5000 was liable for registration, now limit increased to 1,00,000.
  2. Dealers can now maintain Form D register electronically. i.e. if accounting records can generate the data required in form D, then no need to maintain any additional records. Thus now people using Tally or other such accounting software need to make changes in their softwares so that the data required in form D can be maintained in these softwares itself.
  3. Rule 26, which curtailed power of inspection by giving power of inspection  only to commissioner and Deputy commissioner now has been deleted.
  4. The definition of process for job work has been widened, now any process which is notified by commissioner of that corporation shall also be considered as Job Work.
  5. The due date for filling E2 return is now 90 days from end of the year. Earlier only 15 days time was given.
Read more ...

LBT Rules 2013 Passed

The LBT Rules 2013 which were in the draft form since april 25th, 2013 have been finally passed. The Rules have many changes from the draft which was prepared before. Full details about rules shall be soon posted on this website.


LBT Rules 2013
LBT Rules 2013

Read more ...

Friday, June 28, 2013

LBT on Job Work - Explained

Let me explain this with diagrams. The job worker can be in LBT area or Outside LBT area. This gives us 2 situations.

In this case the job worker is situated outside LBT area and hence goods are sent outside city for processing. The goods cross border of city 2 times, so we need to study what are the implications at the each Entry and Exit. While sending good there is no levy of LBT as it is only on Entry of Goods into the city. When the goods are received after processing there is levy of LBT. If there were on provision of Rule 28 for this then the LBT had to be paid on whole of the value of goods imported. But since there is Rule 28, we need to pay LBT on only the value addition of the goods i.e. only on the amount of processing charges. Here for example the goods were sent for painting then only on the painting charges. However this exemption for paying LBT on the value addition is subject to below mentioned conditions which are required to be fulfilled.
Read more ...

Monday, June 24, 2013

90% Refund

Question:
What are the conditions to be satisfied for claming exemption for export outside city?
What things are to be fulfilled for claiming 90% refund?

Simple Answer:
First of all, let's understand what we are discussing. When the dealer bins in goods into the city limits i.e. into LBT area he has to pay tax on the entry know as LBT. Now if the dealer for any reason wants to ae these goods outside city and sell it over there and not in this cit of import then he will again have to pay LBT in the next city of importation. This cases the incidence of taxes to magnify and thus increasing burden on ultimate consumers. For this purpose there is an exemption of 90%.

The dealer exporting goods out of the city shall get 90% refund of the amount of LBT already paid at the time of Export.

The following conditions have to be fullfilled to claim this refund
Read more ...

Saturday, June 22, 2013

Exemption for Exporters

Question:
What are the benefits provided for exporters in this newly introduced LBT(Local Body Tax) law?

Simple Answer:
The main benefit which is introduced by this new law is that exporter of goods i.e. exporting of goods outside India now will be exempt from payment of LBT. This is the incentive government is giving for exporters to increase the foreign currency remittances.
Earlier in Octroi the exporters used to pay taxes on good imported into the city (LBT area), but
Read more ...

Commenting Rules

Due to increasing user traffic and comments it has become essential that this blog which has become a central source of discussion on LBT have some rules for commenting which shall ensure that the visitors of the site get's a information related to their query at one place and helps in good discussion.

The following Rues have to be compulsorily followed
  • No posting of links to other website
  • No use of offensive language
  • No questions regarding rate of a particular product.
  • Post your query / suggestions in a post which is relevant to your posting. (You can use search box below to search the post where your question fits to be posted) 

Read more ...

Thursday, June 20, 2013

LBT Interview

An Interview broadcasted on local TV news channel in Thane.



TV Interview of both the authors of the book on LBT.
Read more ...

Inviting LBT Consultants

We  are inviting profile from LBT consultants (Advocates, Tax Consultants, Chartered Accountants, etc) from all over Maharashtra to establish a State wide service network in the field of Local Body Tax.

The areas we are focusing on-
  • LBT Consultant in Nashik
  • LBT Consultant in Aurangabad
  • LBT Consultant in Kolhapur
  • LBT Consultant in Akola
  • LBT Consultant in Ahmednagar
  • LBT Consultant in Amarawati 
  • LBT Consultant in Bhiwandi-Nizampur
  • LBT Consultant in Kalyan-Dombivali
  • LBT Consultant in Latur
  • LBT Consultant in Malegaon
  • LBT Consultant in Mira-Bhayandar
  • LBT Consultant in Nagpur
  • LBT Consultant in Nanded-Waghala
  • LBT Consultant in Navi Mumbai
  • LBT Consultant in Pimpri-Chinchwad
  • LBT Consultant in Pune
  • LBT Consultant in Solapur
  • LBT Consultant in Ulhasnagar
  • LBT Consultant in Vasai - Virar
 
Interested consultants may send their profile with full details including
  • Name
  • Address
Read more ...

Wednesday, June 19, 2013

LBT Payment Challan

Below is the download link for downloading the challan for payment of LBT.




Read more ...

Tuesday, June 18, 2013

LBT Seminar at Bhiwandi

A Seminar organised by Study Circle of Institute of Chartered Accountant of India (ICAI) jointly with Tax Practitioners Association at Bhiwandi (Dist. Thane).


LBT Seminar Invitation

Read more ...

Sunday, June 16, 2013

Non Dealer Registration

Question

Do I have to get registered even If I am not a dealer?


Simple Answer

Yes you will have to get registered if you are into the business or providing services i.e. a professional. This is subject to the limits. The limits are as below. 

  1. Purchases or Sale (of Taxable goods) >= 5000
  2. Purchases (of All goods) >= 4,00,000
But if you are purchasing the goods and importing the goods and not having any type of business or professional activities in the city then you are not liable to registration.

Read more ...

Deemed Registration

Question

What is Deemed Registration?


Simple Answer

All VAT dealers registered in the municipal corporation are considered as deemed registered for LBT. The address on VAT certificate is important for considering whether the dealer is deemed registered or not. Even if main address in the certificate does not fall within the City (LBT Area) Limits, check if the additional place of business listed in VAT certificate falls or not. Thus if any address in the VAT certificate falls within the corporation limits the delar shall be considered to be deemed registered.

Read more ...

Launching LBT Questions

As we all are aware that Local Body Tax is a new Taxation topic, so there are many issues which are not clear. Apart from those there are many questions in mind which are not answered by reading the LBT Rules just once. These questions require lot of analysis and in-depth knowledge of the subject.


LBT questions
LBT Questions Logo


I am already flooded with any questions regarding many aspects of LBT which Visitors of this site has asked through "Contact Me" Page. But those are being repeated again and again by many. So instead of replying them personally I am from today starting "LBT Questions" page. Where I shall put up all questions which have already been asked or those questions which I feel shall be alter or sooner be asked by someone.

Read more ...

Wednesday, June 12, 2013

LBT Rate - Navi Mumbai, 2013

Here is the Rates Schedule for Local Body Tax Calculation and Payment.

Download Navi Mumbai LBT Rates (Mirror 1)

To know how to download the file Click here

Read more ...

LBT Rate - Nagpur 2013

Here is the Rates Schedule for Local Body Tax Calculation and Payment.

Download Nagpur LBT Rates (Mirror 1)

Update (17th July 2013): The NMC has updated the Nagpur LBT Schedule.
The Updated list Nagpur LBT Rates Here.
This notification issued on 6th July 2013

 

To know how to download the file Click here

Read more ...

LBT Rate - Kalyan Dombivali 2013

Here is the Rates Schedule for Local Body Tax Calculation and Payment.

Download Kalyan Dombivali LBT Rates (Mirror 1)

To know how to download the file Click here

Read more ...

Friday, June 7, 2013

Inviting LBT Consultants

We invite profile from LBT consultants (Advocates, Tax Consultants, Chartered Accountants, etc) from all over Maharashtra to establish a State wide service network in the field of Local Body Tax.


Interested consultants may send their profile with full details including
  • Name
  • Address
  • Area of Operation (Eg- VAT, Income tax, Service tax, Octroi)
  • Number of years Experience
  • Staff Strength
  • Office premises - Whether rented or owned?
  • Include a brief note on your Client's profile

Pls send your profile at - jainam4all@gmail.com at the earliest.

- Siddhachal Share Consultants Pvt. Ltd.
Thane (Mumbai)
Read more ...