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Showing posts from August, 2015

How and to whom the Rs. 50 Crores LBT Amendment is Applicable?

Maharashtra Provincial Municipal Corporations Act, 1949, is the Act under which levy of LBT (Local Bodt Tax) is being made in certain municipal corporations w.e.f. 1st April 2013, replacing Octroi in certain cities in Maharashtra. This Act is now known as The Maharashtra Municipal Corporations Act (Act No. LIX of 1949).

In exercise of the powers conferred by the above Act, the Government of Maharashtra, made rules vide Notification No. LBT-0209/CR-65/09/UD-34, dated 25th March 2010 namely “Bombay Provincial Municipal Corporations (local body tax) Rules, 2010”. These rules are now known as The Maharashtra Municipal Corporation (Local body Tax) Rules, 2010. The Government of Maharashtra has now come with a Notification No. LBT- 2015/CR-47/UD-32 dated 23rd July 2015, which amendments the LBT Rules, 2010. This amendment can bring some cheer to the trading community which was protesting and fighting for the abolition of the LBT in Maharashtra.
According to these amendments the dealer is l…