https://www.taxtmi.com/article/detailed?id=5289 Haryana treats pre-completion agreements for sale or construction under joint development as works contract transactions, making builders liable to VAT on the transfer of property in goods involved. Taxable turnover is computed by deducting the value of land and allowable labour/service charges (actual or prescribed percentages) from total consideration, with departmental guidance on methods to value land (declared amounts, amounts collected for land, or municipal circle rate). Three computation schemes apply: two regular schemes permitting labour/service deductions and a composition scheme at a flat rate without such deductions or input credit. en-us Sat, 21 Sep 2013 12:49:24 +0530 Sat, 21 Sep 2013 12:52:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5289 Haryana treats pre-completion agreements for sale or construction under joint development as works contract transactions, making builders liable to VAT on the transfer of property in goods involved. Taxable turnover is computed by deducting the value of land and allowable labour/service charges (actual or prescribed percentages) from total consideration, with departmental guidance on methods to value land (declared amounts, amounts collected for land, or municipal circle rate). Three computation schemes apply: two regular schemes permitting labour/service deductions and a composition scheme at a flat rate without such deductions or input credit. Articles Value Added Tax - VAT and CST Sat, 21 Sep 2013 12:49:24 +0530 https://www.taxtmi.com/article/detailed?id=5289