Haryana VAT

[Rajendra Pant]

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

AI Summary

Haryana VAT Forum Clarifies Developer Tax Options: 1% Tax on Agreement or Stamp Duty Value, VAT Recovery Guidelines A discussion on the Haryana VAT forum addressed a query about recent notifications affecting developers. The main concerns were CST purchases and VAT recovery from space buyers. An expert clarified that developers have the option to pay 1% tax on the higher of the gross agreement value or stamp duty value, with restrictions on purchasing goods outside Haryana. Non-payment within 15 days incurs penalties. Another expert added that VAT is ultimately borne by the customer, but developers can recover it from buyers. Additionally, developers opting for composition cannot collect tax under the Act.