After a slow start, the local body tax (LBT) collection of the Pune Municipal Corporation (PMC) has gathered momentum. The civic administration has earned around Rs.1,100 crore in the 10 months since the levy was introduced, which is nearly Rs.30 crore more than the revenue earned from octroi in the previous financial year (2012-13).
“The PMC has earned Rs 1,107 crore through LBT between April 1, 2013, and January 31, 2014. It had collected Rs 1,077 crore octroi during the last financial year,” an official from the LBT department said.
The official said that traders paid Rs 34 crore on February 20, which was the last day to pay LBT for January. In January, the PMC collected Rs 106 crore from LBT. Revenue from octroi in January 2013 was Rs 105.71 crore.
Octroi, property tax and development charges are the main sources of revenue for the PMC. The civic body replaced octroi with LBT in April 2013. Under the new rules, traders who bring goods worth over Rs 5,000 into the city have to register with the civic body.
Traders had strongly opposed LBT on its introduction, and had gone on strike against the levy, claiming that the new system had flaws and was not trader-friendly. LBT collection was therefore hampered for nearly six months. But after that, things have changed for the better, officials said.
In the first seven months of the current financial year, the LBT department had collected Rs 746 crore, including the tax and one per cent stamp duty charges. Octroi revenue during the same period last year was Rs 762 crore.
The LBT department conducts meetings every Thursday, where traders can meet officials and resolve their doubts related to the levy.
“The PMC has earned Rs 1,107 crore through LBT between April 1, 2013, and January 31, 2014. It had collected Rs 1,077 crore octroi during the last financial year,” an official from the LBT department said.
The official said that traders paid Rs 34 crore on February 20, which was the last day to pay LBT for January. In January, the PMC collected Rs 106 crore from LBT. Revenue from octroi in January 2013 was Rs 105.71 crore.
Octroi, property tax and development charges are the main sources of revenue for the PMC. The civic body replaced octroi with LBT in April 2013. Under the new rules, traders who bring goods worth over Rs 5,000 into the city have to register with the civic body.
Traders had strongly opposed LBT on its introduction, and had gone on strike against the levy, claiming that the new system had flaws and was not trader-friendly. LBT collection was therefore hampered for nearly six months. But after that, things have changed for the better, officials said.
In the first seven months of the current financial year, the LBT department had collected Rs 746 crore, including the tax and one per cent stamp duty charges. Octroi revenue during the same period last year was Rs 762 crore.
The LBT department conducts meetings every Thursday, where traders can meet officials and resolve their doubts related to the levy.
No comments:
Post a Comment