OTHER KEY DECISIONS TAKEN
Composition scheme for developers
The Haryana cabinet also approved an optional lump sum composition scheme for developers engaged in construction of buildings and flats for sale. It gave approval to revising the lump sum rate for work contractors other than developers and revising TDS rate from 4% to 5% under the Haryana VAT Act, 2003. The developers opting for this lump sum scheme would be required to pay lump sum tax at the rate of 1% on total value of consideration received by them by treating them as non-VAT dealers. They would not be eligible to claim any input tax credit nor entitled to claim any refund or issue any tax invoice. Under the VAT Act, 2003, the developers engaged in construction of buildings and flats and sale thereof were liable to pay tax as work contractors. However, they were finding it difficult to calculate the correct tax liability and to charge VAT from the buyers.
Team, not individuals, to check VAT misuse
The cabinet approved entrusting of approval work to committee of officers instead of an individual officer to check any misuse in issuing refunds to the dealers under the Haryana Value Added Tax Act, 2003. To check any misuse of power by an individual officer, a committee of officers has been constituted to approve refunds at the range and district levels on the pattern of the committee already constituted for approving refunds above ` 25 lakh.
Metro extension
The cabinet approved to fund the extension project of Metro rail from YMCA Chowk, Faridabad, to Ballabhgarh so as to provide Metro rail connectivity to the commuters in the state. The central government had given in principle approval to this project. A sum of ` 130.8 crore would be financial implication of this project. The Badarpur-Faridabad Metro line up to YMCA Chowk is likely to be completed by September 2014.
New universities in Jind, Bhiwani
The cabinet also approved setting up of Chaudhary Bansi Lal University with special emphasis on sports at Bhiwani and Chaudhary Ranbir Singh University at Jind.
Varsity name changed
The cabinet approved to change the name of National Law University, Haryana, to Dr BR Ambedkar National Law University, Sonepat. It will be raised with the state government grant of ` 100 crore to
` 110 crore in addition to the cost of the building.