As of now, Mum­bai ex­empted from LBT

DNA Sunday (Mumbai) - - FRONT PAGE - Dna cor­re­spon­dent @ dna

Chief min­is­ter Prithvi­raj Cha­van an­nounced on Satur­day that Oc­troi would re­main un­til the Cen­tres’ Goods and Ser­vice Tax is in­tro­duced in the next two years. The state will not im­pose lo­cal body tax ( LBT) with­out the con­sent of all stake­hold­ers. He also said LBT will stay as an al- ter­na­tive source of rev­enue for other mu­nic­i­pal bod­ies.

Cha­van has pro­vided re­lief traders by an­nounc­ing that LBT will be col­lected through the sales tax author­ity in­stead of the mu­nic­i­pal bod­ies. Cha­van said that Mu­nic­i­pal Cor­po­ra­tion of Greater Mum­bai will stick to Oc­troi and the state will not force­fully im­pose LBT. Mean­while, LBT will con­tinue in the state un­less and un­til an al­ter­nate op­tion comes through dur­ing the dis­cus­sion with trade fed­er­a­tions.

Cha­van said, “Out of 26 cor­po­ra­tions, LBT ex­ists in 25 ex­cept Mum­bai. The rul­ing Shiv Sena – BJP at MCGM and mu­nic­i­pal com­mis­sioner had said that they want to con­tinue with Oc­troi.”

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