50% cut in property tax for flat owners in Haryana
Feb 27, 2014
Source : The Times of India

 

CHANDIGARH: Ahead of the Lok Sabha elections, the Haryana government on Wednesday announced 50% cut in property tax for owners of flats up to 2000sqft.

Around 60,000 flat owners, mostly in Panchkula, NCR areas of Gurgaon, Faridabad, Sonipat and Bahadurgarh, will benefit from this move.

At present, these flat owners are paying a property tax of Re 1 per sqft in Gurgaon, Faridabad and Panchkula and 75 paisa in other cities.

The Cabinet also waived off the tax till March 31, 2016 for properties situated in 'lal dora' areas, which have come under the municipal limits on or after April 1, 2010. After a Cabinet meeting, the government also announced a 50% cut on property tax on petrol pumps. Similarly, 50% rebate in commercial space rate has also been given to IT park, cyber city or parks of all municipalities.

In yet another move, the Cabinet decided a one-time rebate of 30% for those property owners who clear all their dues up to 2012-13 by March 31, 2014.

VAT reduction

The Cabinet decided to reduce VAT rates on scientific instruments under the Haryana Value Added Tax Act, 2003. The scientific instrument industry of Ambala has been demanding reduction of VAT on scientific instruments to 5% from the present 12.5%, so that the industry becomes more competitive. The reduction in VAT would boost the manufacturing sector.

The VAT rate of cellphones and their parts and accessories having maximum retail price of up to Rs 10,000 would now be 5% and for those costing above Rs 10,000, it would be 8%. Earlier, all cellphones were taxable at the rate of 5%. However, the VAT rates on sale of cellphones in the adjoining states of Delhi and Uttar Pradesh are fixed according to their sale price. In Punjab, all cell phones are taxable at 8.5%.

 

 

 

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