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NMMC lowers LBT rates
Date of Publishing: 2013-07-19 00:00:00.0
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Navi Mumbai Municipal Corporation (NMMC) has been following Local Body Tax (LBT) charges since April 1, 2013. But, there has been constant strikes and bandhs have been called for in protest of the rates.
Recently, APMC traders called for a strike on July 15 and 16, followed by which NMMC released a list of rates that will be levied on particular commodities. 2% LBT would be levied on diesel and petrol, cost incurred for industrial production will also incur 2% LBT. Agricultural produce will levy 0.20% of LBT and all other basic amenities will cost 3%. All these rates are featured on the NMMC website for the convenience of residents and traders.
"The rates were much more earlier, 1% for basic amenities has been reduced, similarly for other categories, which will also help lower rates for these commodities," says a wholesale trader, Shashikant Saraf.
Residents and traders are glad with this move and are in the hope that the rates go further downhill.

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