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Local Body Tax : A new burden!

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Tags: governmentGovernment of MaharashtraLBTlocal body taxLocalBodyTaxMaharashtraMaharashtra governmentMaharashtraGovernmentMatungaMumbaimumbai-st-andrews-collegeMumbaikarsoctroiPrithviraj ChavanPunetax

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The common mans' agony will never end; it just goes on and on. Wondering what's new? It's the Local Body Tax (LBT) that the Maharashtra government is planning to impose on the entry of goods and services into the local area for consumption, use and sale. It is a self assessment or account based method of paying local tax, where the businessmen or trader himself declares his tax liability. Unlike in the octroi regime, trucks carrying goods will not be subjected to physical checking at check ...

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