LBT strike hits business by `75Kcr
The ongoing strike by Maharashtra traders against the Local Body Tax (LBT) has resulted in a loss of nearly `75,000 crore in business and `9,000 crore in revenue to the government, Confede-ration of All India Traders (Cait) claimed.
In a statement released on Friday, Cait has challenged the government to conduct an open discussion on the issue. Meanwhile, the Fede-ration of Retail Traders Welfare Association (FRTWA) claimed that the strike in Mumbai is indefinite and would continue till the imposition of LBT is withdrawn by the government.
Wholesale and retail traders from Mumbai, Thane and Nagpur have been on an indefinite strike against LBT. “The strike will worsen the situation in the state further. Therefore, we challenge the state to join in an open debate on any public platform over the so called advantages of the new tax. Let the people of the state and the country know the real motive behind imposition of LBT,” the Cait statement said.
The state implement LBT to replace the traditional octroi in its cities. In Mumbai, which is the only city that charges octroi at four per cent, LBT will come into effect from October, while other cities in the state have already gone the LBT way.
The confederation said LBT suffers from various “legal infirmities, ambiguities, confusions, disparities and anomalies”.
While demanding the withdrawal of LBT, Cait president B.C. Bhartia said, “The basic principles of the proposed goods and services tax (GST) for which the state has already agreed, have been flouted even when the GST is not yet implemented. This amply shows that the state is inclined to play with the taxation system,” he said.
“The adamant attitude adopted by the state needs to be condemned in strong words and has thwarted the principles of democratic governance,” Cait secretary general Praveen Khandelwal said.
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