3 Replies
vijay
(Accountant)
(902 Points)
Replied 27 July 2013
Yes, LBT will be leviable on those goods you transfer to Vasai, but since those goods are for trading purpose as you mentioned and if same are traded outside Vasai-Virar Corporation within 6 months of their import/transfer in the city then you can claim benefit available for trading and accordingly pay just 10% of LBT payable on such purchase/transfer
Eg: if as per normal LBT rates your liablity comes to Rs 10,000/- then on goods which are traded outside Vasai-Virar Corp within 6 months you will have to pay just 10% of Rs 10,000/- i.e. 1,000/- Rs
Hope this solve your query
Avinash Shah
(Accountant)
(30 Points)
Replied 27 July 2013
Thanks Vijay Sir, for providing such detailed explanations, but is the benefit of paying 10% available to just those goods transfered from bhiwandi or to also other purchase we made ??
And how to maintain data that goods have been traded outside within 6 months as there are lot of different goods we trade ??
vijay
(Accountant)
(902 Points)
Replied 29 July 2013
Yes, benefit is available to other purchase as well if they meet the condition of six months
and for any further information regarding LBT mail me on lbtvrv @ gmail.com
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