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    Published On : Sun, Sep 22nd, 2013
    Business News | By Nagpur Today samratnt

    With continued drop in NMC revenue, high time for State Govt to demonstrate parity – VTA

    Nagpur News: Government of Maharashtra had expressly proposed to impose Local Body Tax (LBT) on Brihanmumbai Municipal Corporation (BMC) from October 1, 2013 by repealing Mumbai Municipal Corporation Act by Maharashtra Municipal Corporation Act or amending Mumbai Municipal Corporation Act.

    However after state wide protest on levy of LBT in lieu of Octroi, Chief Minister Prithviraj Chavan had declared that new levy will be imposed on traders in the Mumbai only after due consensus among traders’ associations.

     

    File Photo

    File Photo

    J. P. Sharma President of Vidarbha Taxpayers Association (VTA) said that this clearly shows the privilege capital city enjoy over rest of the State. Due to levy of LBT many traders from city have shifted their main place of business to either outside city limits and few have shifted to adjoining States, to avoid double taxation along with extra tax compliance of LBT.

    Tejinder Singh Renu, secretary of VTA said as anticipated Nagpur Municipal Corporation (NMC) has already incurred revenue loss of more than Rs.125 Crores and is rising day by day, which has adversely affected by poor maintenance of basic services; pathetic condition of city roads are clearly demonstrates the same and with such revenue failure, even infrastructure projects under JNNURM would be hard hit and delayed, resulting increase in project cost. Similarly other Municipal Corporations in the State are heading towards budget crunch.

    VTA appeals to Chief Minister Prithviraj Chavan, that taking into consideration the revenue losses of corporations, including trade shifting outside city and state limits; it’s high time to replace LBT by imposing surcharge of appropriate percentage on Value Added Tax (VAT) specifically for corporations, thus bring a logical end to the impasse. Only Mumbai getting advantage of still continuing with octroi and avoiding LBT after 1.10.2013 would clearly prove disparity and injustice with rest of Maharashtra.

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