Products

LOCAL BODY TAX (LBT)


LBT means Taxes on the entry goods into a local area for consumption, use or sale therein. Most state governments withdrew octroi about five years ago when the Value Added Tax was introduced. However, barring a few small cities, octroi is collected in major cities of Maharashtra, such as Mumbai, Pune and Pimpri-Chinchwad. The state government has announced that octroi will be abolished from most of the municipal corporations by April 2013 and LBT will be introduced Any Transaction in connection with, or incidental or ancillary to such trade, commerce, profession, consumption, manufacturing, adventure or concern.LBT solution is a complete Local Body Tax Solution for Tax Consultants as well as for Business owners. It automates all the purchase activities related to local body tax compliance.

OUR SERVICES  - (Shrijee Enterprises)

  • LBT Registration Services
  • Preparation and filing of monthly returns as per data provided by you.
  • Preparing and filling of half yearly and yearly returns on the basis of the Books of     Accounts / Records / Documents submitted for audits.
  • Preparing the monthly data chart as per the format of  LBT department for purchase and sales if required by party.
  • Depositing the cheques In banks and obtaining the paid challans acknowledged by the banks.
  • Obtaining refund claim as per rules and provisions of the related act.
  • Obtaining special permission from the commissioner to pay 0.1% of cess/LBT liability in special cases if applicable.
  • Appealing before the authorities in connection with hearing discripencies,disputes and submissions of replies towards notices received from the concerned departments and get the problem solved as may arise time to time.
  • Preparation of complete records for assessments as per the requirements and completion of same along with obtaining the assessment orders.
  • Cancellation of registration with the concerned departments.

 


 

Registration & Liability to pay LBT  - (Shrijee Enterprises)

 

(1) The limits of turnover for registration shall be(a) in the case of a dealer, who is an importer and whose turnover of sales or the turnover of purchases of goods specified in Schedule A, during a year, is not less than Rs.5000/-, and thevalue of all the goods imported by him during such year is not less than Rs.5,000/-, and the turnover of all his sales or the turnover of all his purchases during such year, is not less than Rs. 1,00,000.

(b) in any other case, including the case where a dealer has not become liable to pay local body tax under clause (a), and the turnover of purchases of goods specified in schedule A, in a year, is not less than Rs. 5000/-, and the turnover of all his sales or the turnover of all his purchases during such year, is not less that Rs. 1, 50,000/-.

 

(2) Notwithstanding anything contained in sub rule(1), if a dealer or a person not carrying on a particular business in the City on a reg