Deferment/ exemtion scheme in haryana sales tax1975
shiv
(Querist) 11 February 2012
This query is : Resolved
What was the Deferment Scheme, its process , time period , tax system?
What was the 50:50 Scheme , its process , time period , tax system?
Haryana Sales Tax Act 1975.
ajay sethi
(Expert) 11 February 2012
you have to make application in Form VATA5
along with documents mentioned therein to the officer in charge of the district under rule 69 (2) of haryana sales Tax rules
the officer shall issue an entitlement certificate in Form VAT-G14 shall entitle the unit to deferment of payment of tax for five years
you have to furnish security for the full amount of tax to be deferred to the satisfaction of the appropriate
assessing authority. the security may be in form of cash depsoit or bank guarantee or bond with surety
The security shall be furnished in advance for the tax to be
deferred in a year
The deferred amount of tax shall be converted into interest free loan in
respect of each industrial unit on annual basis in the manner laid down by the
Industry Department of the State Government.
Sankaranarayanan
(Expert) 11 February 2012
Mr sethi is well kknowledge in that state act. His explanation is more sufficient. For you
R K JAIN
(Expert) 13 February 2012
This scheme is not in process at present in the State of Haryana. Procedure explained by Mr Sethi is applicable for the unit granted the exemption under Haryana General Sales Tax Act and want to continute further under the Haryana Value Added Tax Act, 2003. To know more about this scheme please read Rule 28A. 28B and 28C of Haryana General Sales Tax Rules.
