Bangalore will be the first city in India to roll out Large Taxpayer Unit (LTU), an e-Governance project on a pilot basis from July 01, 2006.
On the occasion of launch of documented book on 'Major Emerging Themes in Central Excise' chief commissioner of Central Excise, K.S. Nair, interacting with the members of the Chamber, said firms, which are based in Bangalore and are paying annual returns of Rs 5 crore and above are entitled to become LTUs. Around 83 firms are eligible to become LTUs and more than 50 per cent of them have evinced keen interest to enroll themselves for the programme. By opting to become LTUs, these firms will get special treatment as it has been designed to be a provider of hassle free tax administration and a savior of time.