TMI BlogHaryana VATX X X X Extracts X X X X X X X X Extracts X X X X ..... In preview of recent notification of Haryana Excise and Taxation department regarding VAT on developers, please share the clarity on the following -CST purchase -Recovery of VAT from space Buyer Thanks - Reply By Pradeep Khatri - The Reply = Dear Rajendra, Can you please share with us the Notification number you are referring in your query? Regards YAGAY and SUN (Management and In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... direct Tax Consultants) - Reply By Rajendra Pant - The Reply = Thanks for your response. Notification no. is as follows: No. S.O.88/H.A. 6/2003/S 60/2014 dated 12th August, 2014 Thanks - Reply By Pradeep Khatri - The Reply = Dear Rajendra, The new/y inserted Rule 49A read with Section 9 the HVAT Act, 2003 read with Rules made thereunder enumerates that Duly registered Developer has an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... option to pay 1% tax on the gross value of the agreement or the value for the purpose of levy of stamp duty, (whichever is higher) in lieu of payment of normal tax within 15 days of the close of month. No goods would be purchased out side Haryana. If goods are purchased/received/transferred from outside of Haryana then, the development would have to pay the appropriate tax on sale of such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... goods. No VAT/Input Tax would be available/adjusted and no Tax Invoice would be issued. Non payment of tax within 15 days of the close of month will surely attract penal provisions as prescribed in HVAT Act read with Rules made thereunder. This is for you kind information. Regards YAGAY and SUN (Management and Indirect Tax Consultants) - Reply By ganeshan kalyani - The Reply = ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Hi, I would add a point to Mr.Rajendra Pant query. The first question as regard CST purchase is already clarified by Mr.Pradeep Sir as usual by his quick reply. As regard second query that - Recovery of VAT from Space Buyer, I would add that VAT befalls on ultimate customer. The builder is suppose to discharge his liability but he may recover it from the buyer and pay to the Exchequer. regards, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ganeshan - Reply By ganeshan kalyani - The Reply = Dear Sir, I would re-submit my reply : As per Notification, Rule 49A is inserted and sub-rule 2 specify certain conditions. The composition developer opting for composition under this scheme shall, (iii) not collect any amount by way of tax under the Act; The second query is hence cleared. regards, ganeshan - Reply By Rajendra Pant - Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Reply = Dear Mr. Pradeep/Mr.Ganeshan, Thanks for your inputs - Haryana VAT - Query Started By: - Rajendra Pant Dated:- 19-8-2014 Value Added Tax - VAT-CST - Got 6 Replies - VAT and Sales Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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