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    Published On : Sun, May 25th, 2014

    NVCC sends letter to Chief Minister Chavan, welcomes initiative to abolish LBT in State

    Nagpur News.

    Nag Vidarbha Chamber of Commerce (NVCC), after learning from media reports that State Chief Minister Prithviraj Chavan has initiated the process to abolish Local Body Tax (LBT) in Maharashtra, has sent a letter to him and thereby welcomed the step.
    The NVCC letter, signed by its President Dipen Agrawal, has further stated that they have come to know State Government is considering of imposing 2.5 percent surcharge on VAT (Value Added Tax) in lieu of LBT. “We would like to submit here that if surcharge is levied on VAT it should be Vatable i.e. set off of surcharge should be made available because if surcharge is not Vatable then trade would become uncompetitive in Maharashtra vis-a-vis other States,” the letter said.
    The NVCC President further requested the Chief Minister that the acceptable alternate to LBT should be implementation of MEDC report which has already been submitted to him for his consideration. “We request you to kindly take the trading community of State into confidence before imposing alternative to LBT to avoid further friction between the State Government and the trading community,” said Dipen Agrawal in his letter to the Chief Minister Prithviraj Chavan and expressed the hope that the Government would give relief to the trading community of Maharashtra at earliest.

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