Bhubaneswar: Industrial clusters set up by the Odisha Industrial Infrastructure Development Corporation (IDCO) in urban local bodies areas will now pay holding tax for the services they receive from the respective civic bodies. The state housing and urban development department here has issued a notification saying that the collected holding tax will be divided equally between the IDCO and the respective civic bodies of the state.
According to the notification, in the ULBs where the civic amenities are provided by the ULBs in the industrial estate, areas, or township, holding tax shall be assessed by the ULBs as per the provision of the Acts and Rules.
The demand notice shall be served to the industrial units, and details of the demand raised should be shared with the IDCO. The holding tax shall be collected by IDCO, and the tax collected shall be shared at the ratio of 50:50 between ULB and IDCO, the notification reads.
The notification further mentioned that in ULBs where the civic amenities in said industrial estate, areas, or township of IDCO are not provided by the ULBs, then the holding tax shall be assessed by the ULBs, and the tax collected shall be shared in the ratio of 35:65 between ULB and IDCO.
This move by the Odisha govt aims to ensure that the industrial clusters receive adequate services from the civic bodies while also contributing to revenue of the respective ULBs.

We also published the following articles recently