To provide relief to developers in Haryana and particularly, Gurgaon, the state government has decided to extended the VAT deposit deadline to June 30, 2017. Apart from that, a 2% rebate was also announced for dealers, including developers, who deposit the entire pending amount within the new deadline. “The developers who make the payment by June 30 and pay 1.05% of all the yearly receipts would be entitled to avail of the rebate scheme. Others, who did not derive the benefits of the scheme earlier can also do so by the extended deadline,” the finance minister said. It is because of this reason that the government is trying to settle several legal cases pertaining to VAT out of court.

Source: Hindustan Times May 13, 2017 18:00 UTC