Maharashtra traders go on anti-LBT strike

Trader's associations Maharashtra launched a two-day 'shut-down' agitation to protest the impending Local Body Tax ( LBT). Traders have been protesting against this proposed tax for many months. The latest agitation coincides with the commencement of monsoon session of the state assembly, reports Our Bureau from Mumbai.

Brihanmumbai Municipal Corporation (BMC) has proposed replacement of octroi tax by LBT. BMC commissioner Sitaram Kunte earlier said that this is being done to boost the business-friendly image of the city. The introduction of LBT will remove the bottlenecks associated with the present methods of octroi collection and will improve efficiency in movement of goods.

Speaking to ET, President of the traders union Mohan Gurnani said "The government has gone back on its word. They had promised that they will keep the limit such that most small traders are out of the LBT gambit. Now the limit of Rs.5 lakh is ridiculous. Most small traders buy goods worth more than 5 lakhs per annum. We will continue to agitate till LBT is withdrawn."