LTU Kolkata inaugurated
THE fifth LTU in the country was inaugurated by the Finance Minister at Kolkata yesterday.
But there are some assessees in LTU who wish to come out of LTU for they do not want to enjoy those privileges which are purported to be existing in an LTU. They say that a Large Taxpayer Unit (LTU) welcomes you with promises of a single window of woes instead of multiple ones. See . And four months ago, there was a rumour that the Finmin was considering making LTU registration mandatory for large Taxpayers. Maybe that would be the only way to retain the Large Taxpayers in the LTUs. Sometime back we were told that in the Mumbai LTU, Air Conditioners were not working and there were no fans. It seems the LTU owed a rent due of over Rs. Two Crores.
Incidentally, the Central Excise notification 20/06-CE(NT) has been amended four days back to bring into the picture frame the Chief Commissioners of Income-tax , Kolkata - I, II, III and IV, Kolkata and the Commissioners of Income- tax (Central) - I, II and III, Kolkata and Director of Income-tax (International Taxation), Kolkata. See Notification dated October 25, 2013.
Incidentally Kolkata Conglomorate ITC will not be able to join LTU as Cigaratte manufacturers are outside the purview of LTU! What is an LTU in Kolkata without ITC?