LBT: Only 62000 traders register as deadline ends

Despite the civic administration’s appeal to register under local body tax (LBT) by April 30,only 62,000 traders have registered themselves for the new tax regime that has been introduced in the city in place of octroi.

Written by Express News Service | Published: May 1, 2013 2:46:24 am

Despite the civic administration’s appeal to register under local body tax (LBT) by April 30,only 62,000 traders have registered themselves for the new tax regime that has been introduced in the city in place of octroi. Those applying for registration now will have to pay a penalty amount five times equal to the LBT.

The deadline to register under LBT ended on Tuesday,as decided by the Pune Municipal Corporation (PMC). “Those registering from May 1 will have to pay the penalty as per the rules. The tax collection would begin from May 20 from the registered traders and thereafter those not registered will face legal action,” said Vilas Kanade,PMC in-charge of LBT.

The PMC has completed the survey to locate the businesses running in the city. Kanade said the civic administration would start action against traders not registered with the PMC as doing any business without authorisation under LBT would be illegal.

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