PUNE: With abysmally low collection of the Local Body Tax (LBT) so far, the Pune Municipal Corporation (PMC) may find it tough to carry on with its developmental projects.
According to the LBT department, the LBT collected in the month of June by the PMC amounts to only Rs 10.17 crore.
During the first quarter of the current fiscal, the LBT department of the PMC has managed to collect only around Rs 145 crore, almost Rs 100 crore less than the amount collected during the same period by the octroi department in the last financial year.
The State government replaced octroi with the LBT in Pune from April 1 this year. The LBT was initially opposed by the traders but after a few amendments, the traders accepted it. By the 20th of each month, the traders have to pay the LBT.
The PMC administration has appealed to the traders to pay their LBT for the month of June before July 20 to avoid the last minute rush. Speaking to Sakal Times, Vilas Kanade, head of the LBT department, said that it is aiming to collect Rs 100 core by July 20. “The total LBT collection in the last two months amounts to Rs 145 crore and by July 20, it is likely to reach around Rs 250 crore,” he said.
The State government recently reduced the LBT rates for almost all the commodities being imported in the city. The rate was made equal to that of the octroi.
During the first quarter of the current fiscal, the LBT department has managed to collect only around Rs 145 crore, almost Rs 100 crore less than the amount collected by the octroi department during the same period last fiscal.