As per a latest update, Federation of IT Associations of Maharashtra (FITAM), which represents 19 IT associations in the state, would continue to support the indefinite trade bandh called by Federation of Associations of Maharashtra (FAM) against the newly introduced local body tax (LBT). FITAM is demanding that the new tax should be combined within the existing taxation regime in the form of VAT.
Federation of Associations of Maharashtra (FAM) represents 750 trade associations in the state.The Local body tax is a new taxation system in place of OCTROI, payable to the local civic bodies, introduced in 24 municipal corporations in Maharashtra. Mumbai and Nagpur are to start paying LBT later this year.
It is worth noticing here that 18 days of indefinite bandh by wholesalers and five days by retailers have already been passed. According to estimation, the strike has incurred a loss of almost Rs 75,000 crore and it still counting.
Champakraj Gurjar, Founder and President, FITAM said, “LBT is a very serious issue at the moment for businessman of Maharashtra. We as a businessman are ready to pay any kind of taxes to the government but it shouldn’t be a separate taxpaying system, it should come under one system.”
Gurjar further added, “We are not against paying tax to the government. We are only against the opening of a new window for the LBT, which will give rise to ‘inspector raj’ and, therefore, more corruption.”
However, keeping in mind the basic requirements like sugar, wheat and rice, FAM Treasurer Vinesh Mehta stated that the organisation has made arrangements to supply basic requisites of life for the people during the period of agitation.
