Mandatory registration for LBT begins today
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Gearing up to implement the local body tax (LBT) from the coming fiscal, the Pune Municipal Corporation (PMC) will begin Thursday the process of issuing certificates to traders for carrying out their business in the civic jurisdiction. The civic body will debar traders failing to register from carrying out business.
"The PMC will begin registration for LBT at various centres in the city. Traders who import from another city goods worth at least Rs 5,000 and conduct overall business not less than Rs 1 lakh will have to register for LBT," said municipal commissioner Mahesh Pathak.
He said traders would be issued a certificate and a permanent registration number for doing business in the city without which their business would be considered illegal.
To enable traders and businessmen to register themselves for procuring the certificate, the PMC has provided online facility. It has also made available 15 CFC centres and civic headquarters where traders can visit and get themselves registered online while the process can be completed by submitting the hard copy of application forms at the LBT office.
The PMC would charge Rs 100 as registration fee. Two passport size photographs, proof of address of the property from where the business is carried out, PAN card photocopy, partnership agreement and registration of VAT, sales tax if applicable, will be needed.
Pathak said the PMC has started the process of implementation of LBT and the information from various offices like sales tax, VAT registration, property tax, small scale industry, shop and establishment act put the figure at 3.75 lakh.
An account for LBT collection has been opened in two separate banks, he said adding the civic staff is being trained for effective implementation of LBT.
Pathak said he hoped to collect revenue from LBT equivalent to what the octroi has been yielding.