Nagpur Branch of ICAI felicitated Shri Dayashankar Tiwari Mayor Nagpur Municipal Corporation at NMC Office Nagpur and also submitted memorandum regarding LBT Assessment which is causing hardships in these difficult times of corona to trade and industry.
Chairman of Nagpur Branch CA. Saket Bagdia informed the Hon’ble Mayor about the various activities being taken by Branch. He said that the number of COVID-19 cases in our city is on rising. It’s a very good step by NMC to impose restrictions on people’s movement to control this rapidly spreading pandemic in our own Orange City. Nagpur Branch of ICAI has submitted a memorandum to Hon’ Mayor as regards LBT Assessments.
Currently for an assessee to file an appeal against orders issued by LBT Department, they need to pay 30% of dues as a pre-deposit for admitting appeal. Up to August’20, an appeal could have been permitted by depositing only Rs. 5000/- of penalty levied. In this era of pandemic wherein businesses have suffered a lot, this condition introduced since Aug’20 when the working capital of businesses is already tied up would create a lot of hardship for the dealers. It was represented by Nagpur Branch of ICAI to restore the original provision for a deposit of only Rs. 5000/- for admitting appeal so that lots of ex-parte assessments can be effectively resolved and businesses can be given the benefit.
Shri Dayashankar Tiwari was very happy to know about the various efforts of the Branch for the contribution not only to the profession but also to the society at large. He gave a patient listening to a memorandum submitted by Nagpur Branch regarding LBT and assured positive action at the earliest for the issue. He conveyed his wishes for future endeavors of the Nagpur Branch.
Prominently present on the occasion were CA. Sanjay M. Agrawal, Secretary, CA. Suren Duragkar, Past Chairman and CA. Julfesh Shah, Past Vice-Chairman WIRC.