Lump sum composition scheme for developers from April 1, 2014: Haryana

Developers' registered under the HVAT Act will be able to pay lump sum tax at the rate of 1% on total valuable consideration received by them

The Haryana Government today decided to introduce Lump Sum Composition scheme for developers and builders with effect from April 1, 2014 so as to enable them to pay their tax in lump sum.

Under this scheme, any developer who is registered under the Haryana Value Added Tax (HVAT) Act will be able to pay lump sum tax at the rate of one % on total valuable consideration received by them.

This scheme to pay lump sum tax is voluntary, according to a decision taken by the Haryana Cabinet, which met here under the Chairmanship of Chief Minister Bhupinder Singh Hooda.

It was also decided in the cabinet meeting to bring a new provision in the HVAT Act through an Ordinance under which an amnesty scheme would be started for the recovery of old arrears of taxes for the period prior to March 31, 2014, according to an official release here.

In another decision, the Cabinet gave its ex-post facto approval to the amendment made in Regularisation Policy for Group B, C and D employees regarding addition of clause of 'condonation of break in service'.

The Cabinet approved the proposal to insert a clause of condonation of break in service only upto a period of 30 days in a year provided that the same is not due to the fault of the employee like abandonment of employment in the policy of regularisation in respect of Group B, C and D contractual employees/workers.

The amendment was made following the observations reported by some departments that there is no provision in the regularisation policy for condoning the break in service of contractual employees.

Following the persistent demand of the people and the announcement made by the Chief Minister earlier, the Haryana Cabinet, approved the proposal to take over the Pitamah Kanha Singh Degree College, Kanina.