Amnesty Scheme for Developers and Builders under Haryana VAT–In Depth Analysis by CA Ankit Gulgulia (Jain)
Haryana Government vide Notification No. No 19/ST-1/ H.A. 6/2003/S.59A/2016 dated 12th September, 2016 launched much awaited Amensty Scheme for Developers- Haryana Alternative Tax Compliance Scheme for Contractors, 2016 (hereinafter referred to as ‘Amnesty Scheme’). The potentially trade smoothening scheme provides Developers/Builders with an option to discharge their Value Added Tax (VAT) obligation at flat rate of 1.05% (VAT + Sur-charge) of the entire aggregate amount received/receivable for the business carried out during the year for the period prior to 31.03.2014. What constitutes ‘aggregate amount’ is a Pandora box in itself which we shall discuss in this article later on.