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...

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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. Click here for Municipal Corporation LBT Dept 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...

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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...

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The limits of turnover for registration

Rule 3 – The limits of turnover for registration. 1  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 ...

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Starting LBT Flash Tutorials

From today we are starting "LBT Flash Tutorials" ...

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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. ...

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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,...

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LBT Bare Rules 2012

Launching Today Local Body Tax Bare Rules 2012. ...

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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...

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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...

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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...

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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....

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Suggestions for LBT Changes

The following are the Suggestions for changes in LBT Law 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. 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...

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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. Registration limits increased, earlier imported importing goods more than 5000 was liable for registration, now limit increased to 1,00,000. Dealers can now...

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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 ...

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