PUNE: The Pune Municipal Corporation (PMC) has announced the Local Body Tax (LBT) rates and they are almost equal to the earlier octroi rates. Items like gas cylinders, essential commodities, bicycles, text books and milk will not be charged any LBT.
The PMC is replacing octroi with LBT from April 1 and all these new rates will be applicable from Monday.
The LBT Department head from the PMC, Vilas Kanade, said the State government had approved the rates for LBT and it will be applicable from April 1 in the city. All essential commodities are excluded from LBT. The PMC has put up the rates of all the categories on its official website www.punecorporation.org.
Kanade said the rates are equal to the earlier octroi rates. In some cases like gold, IT, spare parts, sarees, the rates are lower than octroi rates. The rates of 140 items have been declared of which 59 items do not attract LBT.
Earlier, there was three per cent octroi on gold and silver. However, both the metals will have less LBT. The LBT for gold will be 0.10 per cent while silver will be charged 0.5 per cent. The LBT for petrol and diesel will be two per cent, which is equal to the earlier octroi rate.
OCTROI TO LBT
- Octroi was being collected by PMC since February 1950.
- Octroi will be stopped in Pune from Sunday midnight.
- PMC’s daily octroi collection was Rs 3.5 crore.
- Octroi will stop but escort fee will continue for the next couple of days.
- At present, a total of 650 employees are working with the Octroi Department.
- As octroi stops, the LBT Department will have 250 surplus employees, who will be shifted to other departments.