LTUs - How large?

By Vijay Kumar

Regarding the HINDU report we mentioned yesterday in DDT , an LTU officer points out

1. There is no difference in the eligibility criteria for opting to LTU Chennai and LTU Bangalore; the notification for both is the same.

2. Assuming that the News item had wrongly mentioned Rs 1000 Crores instead of Rs 1000 lakhs, I would have been happier if correct position had been pointed out in today's DDT.

3. The threshold limit is either excise duty of Rs 5 Crores (Rs 500 lakhs) in PLA or Service Tax of Rs 5 Crores (Rs 500 lakhs) in Cash or advance Tax of Rs 10 Crores ( Rs. 1000 lakhs) as Income Tax or wealth Tax.

4. I reiterate that there is no change in the above limits.