Govt seeks details of LBT collection

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NASHIK: The state government has asked the Nashik Municipal Corporation (NMC) to submit details of the revenue collected in the past two years through Local Body Tax (LBT).

The state had announced the scrapping of LBT from August 1 this year and has started collecting information on the revenue collection through LBT across 26 municipal corporations.

A civic official said, “We just submitted details of the revenue collected through LBT in the past two years. Two months back, chief minister Devendra Fadanvis had held a meeting with all municipal corporations on scrapping of LBT. The government may levy additional surcharge in Valued Added Tax (VAT) in place of LBT until the introduction of the Goods and Services Tax (GST). We have already conveyed our message to the state that it should not scrap LBT. The NMC should get revenue from the new tax system on a daily basis or the revenue collected through the new tax system should be deposited into accounts of all municipal corporations.”

Source: Times of India

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