The Times of India               19.06.2013

Income from Local Body Tax for May month stands at Rs 25 crore

PUNE: The Pune Municipal Corporation (PMC) has mopped up Rs 25 crore from the Local Body Tax (LBT) from June 1 to June 18. Over 67,000 traders in the city have registered for LBT so far.

"We expect more revenue in the next two days. Last month, traders had made the payment at the last minute. On the last day of the deadline, nearly Rs 25 crore was paid," said a senior official of LBT department, while speaking to reporters on Tuesday.

The PMC had collected Rs 40 crore from LBT till May 20, the last day for paying the tax for April. Till May-end, the total revenue generated from LBT stood at Rs 50 crore.

On action against defaulters, the official said the exact number will be available only after June 20. "The department will check the transactions of defaulters. In case, they are found to have imported goods, they will be directed to pay the fine," he said.

Industries, liquor shops and oil companies are among those, who have paid the tax, he said. Nearly 4,200 traders have made the payment since May 1. Payments have been made through demand drafts, cash, cheque & internet banking.

Octroi, a key revenue source for the civic body, was replaced with LBT on April 1 this year. In 2012-13, the civic body had received revenue worth Rs 1,300 crore from octroi. "Though awareness about LBT is increasing, the response from traders is still poor," said officials working in the LBT department of the PMC.