Please be informed that pursuant to the recent cabinet approvals by the Haryana State Government, the State Government has increased the WCT rate from 4% to 5% pursuant to section 24 of Haryana VAT Act, 2003.
The Text of the Notification is as under,
Notification regarding increasing of VAT rate on TDS from 4% to 5%.
EXCISE AND TAXATION DEPARTMENT
The 20th June, 2014
No. S.O. 67/HI.A.6/203/S.24/2014.
In exercise of the powers conferred by sub section (1) of section 24 of the Haryana Value Added Tax Act, 2003 and in supersession of the Haryana Government, Excise and Taxation Department, Notification No S.O. 53/HI.A. 6/2003/S. 24/2003, dated the 7th April, 2003, the Governor of Haryana hereby directs that with effect from the date of publication of this notification in the Official Gazette every contractee shall, at the time of making payment., whether by cash adjustment, credit to the account, recovery of dues or in any other manner, deduct from the payment made to a contractor for execution of a works contract in the State involving transfer of property in goods, whether as goods or in some other form, tax in advance calculated at the rate of five percent of the amount paid in any manner.
Additional Chief Secretary to Government, Haryana,
Excise and Taxation, Department.