"The new levy will be imposed on traders in the city only after due consensus among traders' associations is reached and after effecting a suitable legislation," a senior minister told PTI here.
Originally LBT was to come into effect in Mumbai from October 1. LBT, which replaces octroi, has already been introduced in a few other cities, prompting strikes by traders.
Chief Minister Prithviraj Chavan chaired a meeting today at the state guest house Sahyadri, where city MPs Gurudas Kamat, Priya Dutt, city Guardian Minister Naseem Khan, Union Minister Milind Deora and MRCC Chief Janardhan Chandurkar were present. Besides, around two hundred representatives from associations of traders and wholesalers were present.
"President of the Federation of Retail Traders Welfare Association (FRTWA) Viren Shah announced in the meeting that they were calling off their strike," the minister said.
"The traders voiced fear that after the implementation of LBT a new window of corruption will open. They said they do not want to evade tax but are against the corruption in the civic body (Municipal Corporation of Greater Mumbai)," he said.
NCP chief and Union Minister Sharad Pawar is also slated to meet Chavan on the LBT issue tomorrow.