LBT - Open Discussion on Facebook.

[Faisal Farooqui]

Dear All, 

          Hello to my Future Managers from AMSIMR. I hereby open this discussion which is going to effect our lives from October onwards. The discussion is already open on Facebook and I hereby invite all of you to add your valuable Comments and worthwhile views an a Management student. Lets check our knowledge update and add some more to it.

Management Graduates of AMSIMR, Ghatkopar Mumbai - Supports the protest against the LBT Tax i.e Local Body Tax to be made applicable in Maharashtra only. Up till now there has been immense opposition from Trade Unions & the Business class people which is directly adding up to the De-Capitalization in Maharashtra. LBT Tax instead of bringing in Revenue to the Govt it will contribute to the DRAIN of Revenue from Maharashtra to Gujarat possibly. Commercial electric connection Per Unit Charges in Gujarat is Rs. 6/unit whereas in Maharashtra it is Rs. 19/unit appealing the Small Scale Industries to move their production units from Maharashtra to Gujarat. So tell me - " The existing Tax Structure is already heavily taxed in Maharashtra with M-VAT and now on top of that LBT tax" By such policies where the Tax Rate will be highest in Maharashtra; but total Taxable revenue will drastically decline ssince business moving to other states. Arey!! Bhaaiii yeh Kaisi Policy hai?? Koni design kele?? TATA Plant at Singur - Why it went to Gujarat instead of Maharastra though the TATA Corporate House is a biggest Mumbai based MNC?? Gujarat mein LBT nahi phir bhi threefold development, really admirable - Thnx to Modi Sarkar. But Maharashtra mein aisa raha to -Mumbai will Not continue to be the Financial Hub of the Country.

 

Faisal Farooqui LBT is like an old wine in a new bottle. It is not charged anywhere else in the country, except here. The government is making it extremely difficult for businessmen to survive and conduct business in the city. LBT will only lead to double taxation. If it is not removed, businessmen s have decided to surrender their licenses & move to state with better better Political environment conducive for the growth of their business.

 

All Political parties in Maharashtra are united in their support for LBT because it opens a huge window for corruption at every level and no one is concerned about the price hikes that will make life untenable for Maharashtra citizens.