The Times of India              24.05.2013

Civic body collects Rs 46 crore from local body tax

PUNE: The Pune Municipal Corporation (PMC) has generated revenue of Rs 46 crore from the Local Body Tax (LBT) till Friday , a statement issued by the civic body has stated.

The PMC officials said that PMC had collected Rs 40 crore from LBT till Monday , which was the last day for paying the tax. Of the total amount, Rs 25 crore was collected on Monday.

"But even after the deadline traders are making payments. The administration is taking a lenient stand about collecting the LBT tax and accepting the tax even after the deadline," said the PMC officials.

The industries, liquor shops and oil companies are among those, who have paid the tax. Nearly 4,500 traders have made the payment since May 1. Payments have been made through demand drafts, cash, cheque and internet banking.

Octroi, a key revenue source for the civic body, was replaced with LBT on April 1 . In 2012-13, the civic body had registered revenue of Rs 1,200 crore from octroi. The traders were opposing the implementation of LBT as they believe it would hamper their business.

Officials working in the LBT department of the PMC said awareness about LBT was increasing, so they are expecting more revenues from LBT.

Over 63,000 traders in the city had registered for LBT till April 30, the deadline set by the civic body. Others, who have not registered for the LBT yet, may either have to pay five times the tax amount or stop their business activity.