According to a state minister, the government will face a shortfall of at least Rs 7,000 crore in 2016-17 financial year if the Parliament does not pass the Goods and Service Tax (GST) Bill in the ongoing session.
In its efforts to raise more funds for tackling drought in the state, Maharashtra government has decided to levy a surcharge of Rs 2 on petrol and diesel while VAT on liquor, cigarettes and beverages have also been raised by 5 percent.
Observing that Sodexo meal vouchers are utility goods, which are capable of being sold, delivered and possessed, the Bombay High Court has held that octroi and Local Body Tax (LBT) can be levied on them.
LBT was introduced by the previous Congress-NCP government with a view to replace octroi.
Wholesalers and retailers across Maharashtra protest against Local Body Tax on Monday. It is a two-day strike. "Trading activity has come to a standstill as all wholesalers and nearly 50 percent of the retailers have joined the two-day strike," said FAM President Mohan Gurnani.
Nashik Municipal Corporation (NMC) has issued notices to the traders, professionals and organisations informing them that the the new system of Local Body Tax (LBT) will be implemented from May 22.
After Akshay Tritiya festival the LBT stir is likley to continue. The Federation of Associations of Maharashtra (FAM) today said that retailers who opened their shops will rejoin the strike starting Wednesday.
Aurangabad has implemented it, Kolhapur has implemented it, so have Solapur, Ulhasnagar, Vasai, Virar and a dozen other municipalities in Maharashtra. But when Local Body Tax came to Mumbai â€“ it got a rather rude reception!
CNBC-TV18‘s Ashmit Kumar reports that the SC refusal to stay LBT has only increased traders‘ protests and the VAT-based model is fast gaining popularity.
Retail traders from Mumbai, Thane and Nagpur joined the indefinite strike today in protest against imposition of the local body tax (LBT).
Congress MPs from Maharashtra today sought the intervention of party President Sonia Gandhi to find solution to the ongoing strike by traders over LBT.
Thousands of Traders, Wholesalers & Retailers in Mumbai have taken to the streets this week to protest the Local Body Tax or LBT. LBT was introduced to replace the corruption ridden and tedious Octroi Tax â€“ a Tax levied on the entry of goods into a municipal area.