Payment of fee for classified trades

Any person who wishes to carry out a classified trade shall register with the Registrar of Companies and seek a Building and Land Use Permit (where applicable) or an exemption from Building and Land Use Permit at the Planning Department of the Council.
The payment of fees, dues and other charges in respect of classified trades for economic operators carrying out trade activity/activities whose annual trade fee/fees exceed Rs 5,000 as at 30th June 2016 and those trade activities regulated under the Excise Act, gambling activities under the Gambling Regulatory Authority Act or such other activities as may be prescribed, shall be due by the 1st July of that year and shall be payable by the person:
(i)    Within 15 days of the start of a classified trade; and
(ii)    Thereafter in respect of every subsequent financial year in two equal instalments, the first one on or before 31st July and the second on or before 31st January next year ensuing.
A surcharge of 50% shall be leviable on any amount not paid within the period specified above.

Exemption from payment of fee for classified trades.
An economic operator carrying out trade activity/activities is exempted from payment of fee for classified trades whose annual trade fee/fees does not exceed Rs 5000 as at 30th June 2016 and is not regulated under the Excise Act, gambling activities under the Gambling Regulatory Authority Act or such other activities as may be prescribed.
Exemption from payment of fee for classified trades is in respect of a period of 3 years as from January 2017.

 

 

 

 

 

 

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