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Local Body Tax

  • Local Body Tax Local Body Tax
    Local Body Tax

Local Body Tax, popularly known by its abbreviation as LBT, is the tax imposed by the local civic bodies of India on the entry of goods into a local area for consumption, use or sale therein.

The tax is to be paid by a registered trader within 40 days. As per the rules, every trader whose annual turnover of purchase and sales of the goods included in the taxable schedule is not less than Rs. 5,000 and if the annual turnover of purchase and sales of all the goods is not less than Rs. 1,00,000 (one lakh) is supposed to be registered with the local civic body i.e. municipality. The payment of the tax is to be done by the trader through an online portal, cheque, demand draft or by cash to a designated bank account or special counters opened for the same by the civic bodies.