He believes that with a more structured accounting of trader’s financial transaction, the Value Added Tax personnel would be able to monitor the community’s finances. This, according to him is the fear that guides the opposition as it would bring in more accountability, specially in regards to goods coming in from the grey market.
While speaking to Nagpur Today, he said that LBT is merely a replacement of the earlier octroi regime and is beneficial to all. “LBT is not a dragon or a ghost to be afraid of,” he said. He urged the customers to ask or demand Sale Bills with LBT number.
The primary concern being stated by the traders has been that maintaining books for LBT will be an additional burden which would make the work of small traders more cumbersome as the burden of keeping books is too much. To this the Nagpur Municipal Corporation’s Assistant Commisioner said that maintaining a 6 column Purchase Register in Form D (Column form) is easy and all one has to do is to make entries on the event of purchases made.
He pointed out the benefits of LBT. First, it ensures that there are no traffic jams at the Octroi collection nakas outside the city. Also, LBT gives traders 50 days to the traders to pay their taxes, unlike in Octroi where payments have to be made instantly when the goods enter the city.
Finally, displaying a sense of openness on the behalf of NMC he said, “That we are always ready to cooperate with traders and dealers. We are ready to hear their grievances and redress their grievances which are within our power. All information about LBT including registration list, LBT rules, schedule, and online payment is available on the official website: www.nmcnagpur.gov.in.