Dear All,
The Haryana State Government has released a draft notification on 5th July, 2014. The draft notification essentially is characterised by four broad spectrums, these are:-
a) Insertion of Rule 2(mmmm) in the HVAT Rules which shall govern and introduce the concept of 'Developer' as a separate category from Works contractor
b) Revised Composition scheme for works contractors (other than Developers) pursuant to Rule 49.
c) New Composition (1%) scheme for Developers by insertion of new Rule 49A
d) Amnesty for Developers i.e. the prescribed developers shall be eligible to opt for Rule 49A retrospectively from 1st April, 2007.
Please find attached herewith the analysis of the same.
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Thanks & Regards,
CA.Ankit Gulgulia (Jain)|B.COM(H), C.A, C.IFRS, C.B.V
Direct|+9811653975 |011-27356431|011-23642055|
Email| ankit@gravita.in
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