Corporation achieves LBT tax revenues equal to Octroi:
The much experimented local body tax would finally complete its one year of implementation and Corporation has good times on it with this revenue reaching Octroi that too with lowest hassle for traders. Corporation has received revenue of Rs. 45 Crores until February 2011 end and other additional streams like escorts fee, 1% cess on property registration franking and State grants/ aid for the compensation of this loss have totalled it to Rs. 68 Crores in the span until now. Corporation earlier had around 70 Crores Octroi revenue estimate and achieving 68 Crores from 7,269 LBT registered dealers has eased its streams.
The much experimented local body tax would finally complete its one year of implementation and Corporation has good times on it with this revenue reaching Octroi that too with lowest hassle for traders. Corporation has received revenue of Rs. 45 Crores until February 2011 end and other additional streams like escorts fee, 1% cess on property registration franking and State grants/ aid for the compensation of this loss have totalled it to Rs. 68 Crores in the span until now. Corporation earlier had around 70 Crores Octroi revenue estimate and achieving 68 Crores from 7,269 LBT registered dealers has eased its streams.
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