Turning down the demand of traders,the Bombay High Court on Tuesday rejected all the petitions challenging the implementation of local body tax (LBT) in Pune Municipal Corporation (PMC) from April 1.
Traders associations and individuals had moved High Court seeking a stay on the implementation of LBT. They argued that the state government while introducing value added tax (VAT) in the past had assured that octroi would be abolished. However,while the government is charging VAT,it is replacing octroi with another tax regime.
As per the new tax regime,traders are required to deposit tax every month for the business done in the previous month,failing which the civic administration can check the account details of traders.
The civic administration has started the process of registering traders for LBT for which it has opened a separate cell. Besides,the traders can also register themselves online.
The civic administration is going through the details of traders available with the sales tax department and customs and central excise to ascertain their exact number in the city.
Traders importing goods at least worth Rs 5,000 from outside the city and doing a business of Rs 1 lakh a year are required to register for LBT. The civic body has already started issuing trader licences.