The question:
How trader/dealer pay the LBT to authority - Is it Monthly self filing & payments?
Simple answer
Monthly, 10th of next month
Details and Explanation
As per Rules, payment is to be made on 10th of the next month. So for the month of April, payment date is 10th May. Unlike Octroi, the payment has to be made on the basis of bill date and not when goods entered the city. So if bill of goods you purchased from outside city has bill date of 25th April then irrespective of the fact that goods come in city in April or May, payment will have to be done on 10th May.
This gives rise to another question as to what if after payment of LBT, goods does not come to city?
This question was put upon the deputy commissioner Mr.K.D.Nipurte at the seminar organissed by TSSIA, even he didn't answered. So don't ask me.
LBT is still a new law for the department and the general public, these questions will get solved in coming time, I shall be updating this post when I get answer of this. If you have a suggestion or answer, Please post it in comments below.
Also See : Online Registration of LBT
How trader/dealer pay the LBT to authority - Is it Monthly self filing & payments?
Simple answer
Monthly, 10th of next month
Details and Explanation
As per Rules, payment is to be made on 10th of the next month. So for the month of April, payment date is 10th May. Unlike Octroi, the payment has to be made on the basis of bill date and not when goods entered the city. So if bill of goods you purchased from outside city has bill date of 25th April then irrespective of the fact that goods come in city in April or May, payment will have to be done on 10th May.
This gives rise to another question as to what if after payment of LBT, goods does not come to city?
This question was put upon the deputy commissioner Mr.K.D.Nipurte at the seminar organissed by TSSIA, even he didn't answered. So don't ask me.
LBT is still a new law for the department and the general public, these questions will get solved in coming time, I shall be updating this post when I get answer of this. If you have a suggestion or answer, Please post it in comments below.
Also See : Online Registration of LBT
