We are builders and have projects. In such case we require clarification on following points:. Thus, LBT is applicable in Thane. Hence, if your Turnover of purchases or sales within Thane Municipal exceeds Rs. We have been registered under LBT since last year i.
F Y Our nature of business is Interior Contractors and we have been awarded a contract for that we have been supplying goods from other states. We have paid LBT upto July Maharashtra Government has recently announced its decision to exempt business organisations having turnover below Rs. LBT is payable by the purchaser of goods bringing from outside Municipal Limits of a corporation. Hence, your client in no way can force you to pay LBT, if you are exempt by the clarification of State Govt.
Whether sale of vacant land within municipal corporation area will get included in turnover for LBT in Maharashtra? Hence, LBT will not be payable on sale of vacant land within municipal corporation area.
Our company is manufacturer of paint having its factory at Pune and the company does not have place of business in any municipal corporation in Maharashtra. The goods manufactured in factory is sold to dealers in various corporation in Maharashtra. We deliver goods to dealer through third party transporter. Do we need to continue to pay LBT? LBT is payable by the purchaser of goods bringing goods from outside Municipal Limits of a corporation. Accordingly if your dealer is not having purchases or sales in a particular city for an amount more than Rs.
Party A ships material to Party B turnover less than 50 Crore. Liabillity of Party B will arise only if local turnover of purchases or sales within a city area is more than Rs. Hence there will not LBT liability for party B. Would like to have clarification on following Accordingly, as per your explanations LBT will not be applicable in your case.
However if the same has not crossed the basic limit in previous financial year then the same will be deemed to be cancelled. You will have to apply for fresh registration in case your turnover with one municipal corporations exceeds Rs. Accordingly, you can avail the advantage of Rs. If ABC Co. In your case, if the turnover of both units are situated in different municipal corporation limits then, LBT will be payable by Unit-A only , but if both the units are situated in same municipal corporation limits , then LBT will be payable by both the units.
Whether a subsequent notification issued? Accordingly for clause b in sub-rule 1 , of rule 17 of the Principal Rules, following sub-clause has been substituted, which now provides for deemed cancellation of registration of all dealers having turnover limit below Rs.
Substituted provision of Rule 17 1 b reads as follows. If my business is spread in multiple states branches , then for calculating the turnover exemption, turnover of all the states should be taken into consideration or only Maharashtra. For e. Accordingly, as per the facts provided by you, LBT will not be applicable in your case. We have one query regarding the recent amendment notification on turnover based exemption in case of LBT in Maharashtra In one of our group entities, the sales turnover exceeds Rs.
However the purchase turnover may not exceed Rs. Please clarify. Turnover limit is to be considered for Sale or Purchase of Goods within same corporation limit. In your case, sales turnover is exceeding the basic exemption limit of Rs. Hence, you will be required to pay LBT on your purchases of goods in that city even though the purchase turnover is below the prescribed turnover limit.
Please let us know whether we are eligible for LBT for 3 units having turnover in each city less than 50 crores? I have doubt regarding LBT, one of my clients who is having overall turnover of Rs. Please explain whether this establishment will be covered under LBT or Not? Accordingly in your case, turnover of Nagpur only , shall be considered for the purpose of LBT. As the turnover from Nagpur is less than Rs.
Our head office is in PCMC limit. We have purchased required material as office stationery amounting to Rs. Every Dealer whose turnover either of all sales or of all purchases in the city covered under LBT has exceeded pr exceeds the relevant limit prescribed in this behalf shall be liable to pay the LBT. Accordingly, H. At present we are considering our sale price workings of Motor cars and parts in the State of Maharashtra by considering the LBT paid by them.
Kindly inform us the effect of this notification i. Accordingly, only those dealers whose turnovers within any city covered under LBT is less than Rs. Would need to be compensated for LBT. Whether in case of job work where the material received inward for job work process is exceeding more than Rs. Meshram further said that bank accounts of all traders will be seized for recovery. Banks have started transferring the amount to NMC.
Meshram said assessment of four months of fiscal is pending for all traders and assessment for traders whose turnover was over Rs50 crore per annum. As assessment powers were not revoked, the LBT department resorted to unfair means of passing Best Judgement Orders with inflated demands. LBT officers are extorting money and harassing traders. Agrawal and other office bearers of CAMIT apprised finance minister Jayant Patil of high LBT liabilities on traders and requested him to set aside assessment powers with retrospective effect from Facebook Twitter Linkedin EMail.
Start a Conversation. Under this entry the state legislature has exclusive power to make laws and collect taxes on entry of the goods in local areas. However Maharashtra Government has delegated these powers to the Local authorities such as Municipal Corporation and Municipal Councils.
In Maharashtra presently L. However, cess i. Goverment of Maharashtra vide it's notification No. There are two schedules of the goods.
Taxable goods are covered under schedule "A" and on these goods Local Body Tax is leviable at the rates mentioned against each entry of this schedule, on entry of these goods in NMMC area for consumption use or sale therein.
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