Saturday, April 27, 2013

Bye Bye Octroi, Hello LBT?

Thousands of Traders, Wholesalers & Retailers in Mumbai have taken to the streets this week to protest the Local Body Tax or LBT. LBT was introduced to replace the corruption ridden and tedious Octroi Tax – a Tax levied on the entry of goods into a municipal area. Instead LBT will be imposed on the sale of goods. But traders are vehemently opposed to it. Ashmit Kumar finds out why?
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