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Taxation

Traders evading LBT worth Rs 4.5 crore caught

Thursday, 28 November 2013 09:06 administrator
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The Times of India            28.11.2013  

Traders evading LBT worth Rs 4.5 crore caught

PUNE: The local body tax (LBT) department caught as many as 16 traders for evasion on goods worth Rs 4.5 crore during the week-long raids.

"Action was taken against the traders evading the tax. It will go on till March in phases," said Rajendra Jagtap, additional commissioner of PMC, on Tuesday. The administration has sought the state's permission to carry out raids against LBT defaulters, who are not paying heed to the notices of LBT payment. The drive was started on November 20.

Vilas Kanade, head of LBT department, said the raids were conducted across the city. Traders including garment, liquor and small-scale industries were targeted. Traders who have not registered will have to pay five times their LBT charge, while the traders who have registered, but have not paid the tax will need to pay two times the charges.

"LBT of around Rs 18 lakh is expected from this drive. Notices were issued to these traders but they did not pay," said Kanade.

 

Panel visits tech parks over tax dues

Thursday, 28 November 2013 07:04 administrator
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Deccan Herald             28.11.2013  

Panel visits tech parks over tax dues

 Members of the BBMP Standing Committee for Taxation and Finance led by its chairperson M S Shivaprasad visited two tech parks in the Mahadevapura division on Wednesday.

The members said that despite issuing three notices to Brindavan Tech Park, now owned by Embassy Group, and Wipro, the building owners have failed to pay the full property tax to the Palike.

“Both the buildings have paid only a part of the property tax. While Brindavan has to pay a total of Rs 28 crore, Wipro needs to pay Rs 16.5 crore,” said Shivaprasad.

The head of the Embassy Group Rajeev told the members that the pending tax would be paid to the Palike very soon. However, Wipro was adamant on not paying up the dues, Shivaprasad said. He warned that the BBMP will be compelled to take legal action against Wipro, if they do not clear the dues. Their building was constructed in 2008 and is spread over 32 acres,” Shivaprasad told Deccan Herald.
 

NMC gets Rs 25cr collected for LBT in stamp duty

Wednesday, 27 November 2013 11:41 administrator
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The Times of India            27.11.2013

NMC gets Rs 25cr collected for LBT in stamp duty

NAGPUR: The Nagpur Municipal Corporation (NMC) heaved a sigh of relief when the state government sanctioned Rs25.49 crore, recovered from stamp duty, for the civic body. Citing NMC's weak financial condition, municipal commissioner Shyam Wardhane has managed to get the amount, which is supposed to be released only at the end of the financial year.

The government increased stamp duty by 1% with effect from April 1 to implement local body tax (LBT) in the city. The department of registration and stamps also collects stamp duty for other agencies. The government releases the amount to concerned agencies at the end of the fiscal. Fortunately for the civic body, a government notification on November 25 released the amount immediately.

Assistant commissioner Mahesh Dhamecha said revenue from LBT increased to Rs202.50 crore after adding stamp duty. "Wardhane managed to explain to the government the need for funds. The civic chief personally pursued the matter at Mantralaya and got the sanction. Revenue from LBT, including transit, was Rs168 crore till November 25. Revenue from stamp duty was Rs34.50 crore as on October 31. Revenue from octroi was Rs304 crore in last fiscal as against LBT's Rs202.50 crore," he said.

 
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