16 May 2013
our company is procuring certain laptops four employees located in nasik, pune and nagpur. the vendor from whom we are procuring is a well known IT COmpany. the COmpany has denied delivery of the systems unless we have disclosed the LBT No to him. please advise wheether LBT is required to be obtained by us? whether delivery is made by vendor in Mumbaiand we deliver it at respective places would attract LBT? further what if we show it as transfer?
04 July 2013
LBT has been suspended for at least 3 years and is not applicable. As per the Ambedkar Committee if any Govt. wants to impose any tax or wants to bring such ordinance and the affected persons go for strike for 35 days continuation then for next 3 years that act cannot be imposed. Since the agitation was for 35 days in Mumbai now the act is suspended for 3 years.
CAclubindia
