Report of the study group for devicing alternative to Octroi

By Staff
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Google Oneindia News

Mumbai, Aug 21 (UNI) Report of the study group appointed to find out the alternative for Octroi, have suggested that applying cess on VAT (value added tax), professional tax and cooperative tax could be the alternative for recovering loss of Rs 5572 cr which the Urban Local Bodies (UBL) will suffer due to abolition of Octroi.

The study group was headed by principal secretary Finance Subodh Kumar and had several other members including the Municipal Commissioner of Mumbai Johny Joseph and others.

Talking to reporters here today Mr Kunar and official spokesman of the government Jay Raj Pathak said that Mr Joseph expressed his descent of the recommendation however, others agreed with the same.

The report is put up on the website and now by releasing through media the recommendations and objections are invited.

Mr Kumar said ''abolition of Octroi will require imposition of Municipal professional tax by ULB, imposition of additional VAT, reform of property taxes coupled with revision in user charges alongwith imposition of general entry tax could be considered at the later date." UNI JM MJ SKB1854

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