The state government has handed over Rs215 crore to the Pune Municipal Corporation (PMC), collected through additional one percentage duty on the stamp and property registrations.
While abolishing the Local Body Tax (LBT), the Maharashtra government had implemented an additional one per cent stamp duty on property registration as compensation for LBT.
PMC officials confirmed that, recently, the state government handed over the amount to the civic body.
The state government has handed over Rs77.45 crore for January 2022, Rs69 crore for February 2022 and Rs69 crore for March 2022. So, a total of Rs215.45 crore has been given to the PMC.
Maharashtra government also handed over Rs78 crore to Pimpri-Chinchwad for the same.
All the municipal corporations had opposed abolishing LBT as they were losing the prime source of revenue and feared they will have to be dependent on the state and central governments.
By abolishing LBT, goods and services tax (GST), a tax on goods and services sold domestically for consumption, has been introduced at pan India level, and local municipal corporations are getting funds as per proportionate.
As the municipal corporations opposed it and raised concerns, the state government introduced one percentage additional surcharge on property registration in their jurisdiction. The stamp and registration department collects these funds and hands them over to the local corporations.
{{/usCountry}}As the municipal corporations opposed it and raised concerns, the state government introduced one percentage additional surcharge on property registration in their jurisdiction. The stamp and registration department collects these funds and hands them over to the local corporations.
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