What is LBT no?

From Wikipedia, the free encyclopedia. Local Body Tax, popularly known by its abbreviation as LBT, is the tax imposed by the local civic bodies of India on the entry of goods into a local area for consumption, use or sale therein.

What are local taxes used for?

Local taxes fund government services including police and fire services, education and health services, libraries, road maintenance, and other programs and projects which benefit the community at large. Many of these services also receive federal funds in the form of grants.

How do I pay LBT?

Payment of LBT: The tax amount determined based on the LBT rates can be paid to the municipal body concerned via online payment, cheque, demand draft or in cash at the municipal offices or dedicated bank counters within 10 days of the following month – that is, within 40 days of movement of goods.

Is the amount on which tax is levied and collected?

Taxes Levied by the State

What is the local body tax in Maharashtra?

LBT in Maharashtra Local Body Tax is the tax imposed on the entry of any goods into local areas for sale, consumption or use. This tax is imposed by the local civic bodies in the area and the amount of tax will vary in each place. Local Body Tax (LBT) is a levy on “the entry of goods into a local area for consumption, use or sale therein”.

Which is exempt from local body tax in India?

Local Body Tax rates vary in each municipal corporation, though the Schedule B of goods exempt from LBT is common for all cities. The general range of LBT is between 0.1 percent and 10 percent. The highest LBT is usually levied on Indian-made foreign liquor (IMFL), imported liquor, wines and country liquor.

What is the definition of local body tax?

Local Body Tax is the tax imposed on the entry of any goods into local areas for sale, consumption or use. This tax is imposed by the local civic bodies in the area and the amount of tax will vary in each place. Local Body Tax (LBT) is a levy on “the entry of goods into a local area for consumption, use or sale therein”.

When did Pune Municipal Corporation collect local body tax?

As per the Government of Maharashtra Notification bearing No. LBT-2013/22/UD-32, dated 25/02/2013, the government has directed Pune Municipal Corporation to collect Local Body Tax instead of Octroi in its jurisdiction from 01.04