THE PUNJAB VALUE ADDED TAX FORMS, 2005.
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FORM VAT 20

(See Rule 40)

ANNUAL STATEMENT BY A TAXABLE PERSON

(Please read the INSTRUCTION carefully before filling the form and worksheet)

VRN

For period From

________

(dd.mm.yy)

To ________

(dd.mm.yy)

PART A

1.	SALES DETAILS	As per Books	As per Returns Filed	Difference, if any
(a)	Gross Sales*
(b)	Less : Sales within the State by the exempted units
(c)	Less: Zero rated sales
(d)	Less: Inter-State sales
(e)	Less: Tax free sales
(f)	Less: Sales return, Cash/Trade discount
(g)	Less: Tax element included in sales
(h)	Less : Purchase value of sale of goods purchased from exempted unit and sold to persons other than taxable persons.
(i)	Any other deduction, please specify
(j)	Net sales subject to VAT

2.	PURCHASE DETAILS
(a)	Gross Purchase (including capital goods and goods received by stock transfer)
(b)	Less: Imports from outside India
(c)	Less: inter-state Purchases / goods received from Branches/principals
(d)	Less: Purchases made directly from exempted units
(e)	Less: Tax free Purchases
(f)	Less: Purchases from persons other than taxable persons
(g)	Less: Purchases against 'H' form
(h)	Less : Purchases liable to Purchase Tax u/s 19(1) and 20 in the hands of the person filing the return
(i)	Less : Purchases not eligible for input tax credit under section 13(5)
(j)	Less : Purchase return and cash/trade discount
(k)	Any other deduction, please specify
(l)	Net : Purchases eligible for input tax credit [a-(b+c+d+e+f+g+h+i+j+k)]

3.	OUTPUT TAX
(a)	VAT on net tax taxable sales within the year
(b)	Add: Purchase Tax on turnover as Per Col. 2(h)
(c)	Add/Less: Prior period net adjustment of output tax
(d)	Total Output tax

4.	INPUT TAX CREDIT (ON ACTUAL BASIS)
(a)	ITC brought forward from previous year
(b)	Add : Installment of ITC on stock held on appointed day.
(c)	Add : TDS against Tax Deduction Certificate
(d)	Add : ITC on purchases made during the period the year as per Col. 2(l)
(e)	Add : ITC, debited earlier, on goods received back after job work u/s 13(3)
(f)	Add/less : Prior period net adjustment to input tax
(g)	Add : Any other, please specify
(h)	Total input tax credit available
(i)	Less : apportionment of ITC for manufacturing tax free goods
(j)	Less : apportionment of ITC for branch transfer
(k)	Less : apportionment of ITC u/s 13(4)
(l)	Less : ITC on goods sent for job work u/s 13(3)
(m)	Less : reversal of ITC
(n)	Less : Any other, please specify
(o)	Total (i+j+k+l+m+n)
(p)	Net input tax credit available (h - o)

5.	GOODS PURCHASED FROM EXEMPTED UNITS
(a)	Total purchases made during the year [(as per col. 2(d)]
(b)	Less : Goods return and cash/trade discount
(c)	Less : Goods used in the manufacture of tax free goods
(d)	Less : Goods exported out of India.
(e)	Less : Goods used in consignment/branch transfer
(f)	Less : Capital goods
(g)	Less : Sales made to persons other than taxable persons
(h)	Less : Goods not eligible for input tax credit under section 13(5)
(i)	Less : Any other goods on which notional input tax credit is not available
(j)	Net purchases eligible for notional input tax credit.

5-A.	INPUT TAX CREDIT (ON NOTIONAL BASIS) (on purchases from exempted units only)
(a)	Brought forward from previous year
(b)	Add : Notional ITC on purchases from exempted units as per col. 5(j)
(c)	Total notional input tax credit available

6.	TAX PAYABLE/EXCESS INPUT TAX CREDIT
(a)	Total out put tax [ as per 3(d)]
(b)	Less : Monthly tax paid (as per 2nd proviso to rule 36) (i) 1st month of the quarter (ii) 2nd month of the quarter
(c)	Less : Net ITC as per col. 4(o)
(d)	Difference (a-b-c) (If output tax is more than input tax, balance be adjusted out of Notional ITC, if any. Otherwise amount is to be deposited)
(e)	Excess ITC, if any, after adjustment in (d) (i) Actual (ii) Notional
(f)	Less : CST liability for the year
(g)	Difference (e-f) (If output tax is more than input tax, Balance be adjusted out of Notional ITC, if any. Otherwise amount is to be deposited)
(h)	Excess ITC after adjustment under (g) : (i) Actual (ii) Notional
(i)	Less : Actual ITC out of col. (h) claimed as refund during the year
(j)	Balance excess ITC, if any to be carried forward to the next return: (i) Actual (ii) Notional

7.	DETAILS OF TAX PAYMENT DURING THE STATEMENT
Challan / instrument No.		Date (dd.mm.yy.)	Bank/Treasury	Branch code	Amount

8.	FOR UNITS AVAILING EXEMPTION OR DEFERMENT	Amount
(a)	Entitlement Certificate No. and date
(b)	Date of expiry of exemption/deferment
(c)	Total amount of exemption/deferment allowed (i) Exemption/deferment available at the beginning of the year (including under CST Act) (ii) Exemption/deferment availed during the year (iii) Balance at the end of the year
(d)	Admissible amount of refund on tax paid purchases
(e)	Goods sent on consignment/stock transfer basis

9.	Miscellaneous information (wherever applicable)	Amount
(a)	Value of Branch Transfers/Consignment Transfers made during the year
(b)	Value of Commission Sales made by Kacha Arhtiya during the year
(c)	Payment made to contractor(s) sub-contractor(s)
(d)	Proof of payment of TDS
(e)	Value of Capital Goods purchased from taxable persons

Declaration : I, solemnly declare that to the best of my knowledge and belief, the informatin given on this form is true and correct
Name			Status
Signature			Dated

PART B

(INFORMATION TO BE CERTIFIED AS CORRECT BY A CHARTERED ACCOUNTANT IN CASE OF PERSONS WHOSE TURNOVER EXCEEDS RS. 50 LAKH

10.	DETERMINATION OF OUTPUT TAX ON SALES
Rate of tax		Turnover	Output tax
1	1%
2	4%
3	8.8%
4	12.50%
5	20%
6	22%
7	27.50%
8	30%
Total

11.	BREAK UP OF ZERO RATED SALES
(a) Category		(b) Gross sales	(c) Less : sales returns	(d) Less : discounts	(e) Net sales
Export out of India
Sale against 'H' form

12. BREAK UP OF DEDUCTION FROM SALE & PURCHASES

(a) Deduction from sales for the statement period

(b) Deduction from purchases for the statement period

Sales returns

Purchase returns

Cash/trade discount

Cash / trade discount

Amount charged separately as interest for sale by hire purchase/installment purchase

Others (Pl. Specify nature)

Cancellation of sales

Change in nature of sales

Change in sales consideration

Purchase value of goods purchased from exempted unit and sold to person other than 'taxable person'

Other (Pl. Specify nature)

Total deduction

13.	DETERMINATION OF TAX ON PURCHASE
Purchases made U/S 19 (Schedule 'H' goods)
Purchase made U/S 20
Turnover liable to tax.

14.	PURCHASE TAX PAYABLE
Rate of tax		Turnover	Tax
1	1%
2	4%
3	8.8%
4	12.50%
5	20%
6	22%
7	27.50%
8	30%
Total

	DETERMINATION OF INPUT TAX
(14.A)	On Capital goods :

(14.B)

On goods other than capital goods:

Rate	Turnover	Input tax for the year	B/f from previous year	Reverse tax, if any	Admissible input tax credit for the year
1%
4%
8.8%
12.50%
20%
22%
27.50%
30%
Total

14. (C)

Admissible input tax credit for the year :

(a)

On capital goods

As per Col. 12A

(b)

On goods other than capital goods

As per Col. 12B

(A) Total :

(c)

Less : Deduction on A/c of interstate branch transfer/consignemtn sales

(d)

(e)

(B) Total :

Net input tax credit available for the year

(A-B) :

15.

TAX LIABILITY

Output Tax for the year

Less : Input Tax credit for the year

Balance :

Less : Tax paid during the year

Balance Due/excess carried down to next year :

OTHER INFORMATION

I Whether there is dealy in payment of tax, if so please give particulars.

Sr. No.	Due date	Date of payment	Amount	Delay	Interest payable
1
2
3

II Whether the person has deducted tax at source and paid the same to the credit of State Government according to the provisions of Act and Rules, if there is delay in deposit of tax so deducted, please give detail.

Sr. No.	Particulars	Amount of tax deducted	Due date of payment	Date of payment
1
2
3

III Whether all declarations for all sales made to Government, claimed at concessional rate as required under the Act and Rules are received. If not, give details.

Sr. No.	Invoice No.	Date	Name of Party	Amount of bill
1
2
3

CALCULATION UNDER CENTRAL SALES TAX ACT

I SALE IN COURSE OF EXPORT OUTSIDE THE TERRITORY OF INDIA

Whether all declarations and documents as required under the Central Sales Tax Act, 1956 and Rules framed thereunder and the Punjab Value Added Tax Act, 2005 and the Punjab Value Added Tax Act, 2005 are available on record. If not, give details.

Sr. No.	Invoice No.	Date	Name of Buyer	Amount (Rs.)	ITC Claimed
1
2
3

II INTERSTATE SALE

(a) Whether interstate sales claimed as liable to tax as per section 8(1) or CST Act are supported with declaration forms C or D, as the case may be. If not, give details.

Sr. No.	Invoice No.	Date	Name of Buyer	Amount (Rs.)	ITC Claimed
1
2
3

(b) Whether all interstate branch transfers/consignment sales are supported with declaration in form 'F'. If not, give details.

Sr. No.	Invoice No.	Date	Name of Buyer	Amount (Rs.)	ITC Claimed
1
2
3

III TOTAL TAXABLE INTERSTATE SALE, AS PER BOOKS OF ACCOUNTS.

IV CENTRAL SALE TAX PAYABLE

V. WHETHER THERE IS DELAY IN PAYMENT OF TAX, IF SO, GIVE DETAILS :

VI INPUT TAX ADJUSTMENT INFORMATION

(IN CASE INPUT TAX CREDIT IS MORE THAN OUTPUT TAX BALANCE OF CREDIT)

Less :

Adjustments :

(1)

Against dues under the Act

Period : From ___________ to _______________

Order Ref. ________________________________

(2)

Against any tax, penalty, interest under C.S.T. Act, 1956

Period : From ___________ to _______________

Order Ref. ________________________________

(3)

Refund claimed on account of export sales

Date of application

(4)

Refund application in other cases, if any

Date of application

TOTAL (1 TO 4)

Balance input tax Credit on other goods carried forward to next year

Balance input tax Credit on Capital Goods carried forward next year

CERTIFICATE OF CHARTERED ACCOUNTANT

I/We declare that particulars above are true and correct, I/We have verified the above particulars from books of accounts and other relevant records and certify the same as true and correct.

	Chartered Accountant
	Name : _______________________
	Status : _______________________
	Membership No. : _______________
	Address : ______________________
	______________________________

Date : ________________
Place : _______________

WORKSHEET

1. BREAK UP OF TAXABLE SALES AND PURCHASE IN PUNJAB (EXCLUDING CAPITAL GOODS)
1(a) Rate	1(b) Gross Sales	VAT	1(c) Gross Purchases	VAT
At 1%
At 4%
At 8.8%
At 12.5%
At 20%
At 22%
At 27.5%
At 30%
Other (Specify)
Total

2. BREAK UP OF GOODS SOLD UNDER WORKS CONTRACT

2(a) Gross Value

2(b) Less : Value of labour

2(c) Taxable Value

2(d) Rate wise Break up

2(e) Output tax

Total

Less TDS

Net Output Tax

3. BREAK UP OF ZERO RATED SALES
3(a) Category	3(b) Gross sales	3(c) Less : sales Returns	3(d) Less : Discounts	3(e) Net Sales
Direct Export out of India
Sale against H form

4. PRIOR PERIOD ADJUSTMENTS
4(a) Prior period adjustment of Sales	4(b) Adjustment in Sale	4(c) Adjustment in Output tax	4(d) Prior period adjustment of Purchases	4(e) Adjustment in Purchase	4(f) Adjustment in Input tax
Cancellation of sales			Cancellation of Purchase
Sales Return			Purchase Returns
Change in nature of sales			Change in nature of Purchase
Change in sale consideration			Change in purchase consideration
Total			Total

5. ANY OTHER ADJUSTMENT (PLEASE SPECIFY)

Instructions for filling the form

1 Please fill all the fields in the form and the Ahnex as applicable.

2 The Annual Statement has to be filed on or before 20th November of the following year to which the taxable activities of this statement pertain.

3 In case of minors, the specimen signature of guardian/trustee should be furnished.

4 All amounts should be reported in Rupees only.

5 For reporting prior period adjustments [Field 3(c) and 4(f)], please ensure that you reflect all the adjustment that have already been declared in your quarterly/monthly return forms, as well as any further adjustment that may have occurred after filing of the last quarterly report; provided they are in accordance with the provisions of the Act/Rules.

6 For reporting adjustments to input tax credits on account of branch transfers [Field 4(j)], please ensure that you reflect all the adjustments that have already been declared in your quarterly/monthly return forms, as well as any further adjustments that may have occurred due to branch transfers after filing of the last quarterly returns; provided you have already claimed full input tax credit during the year for the stock that have subsequently been branch transferred.

7 For reporting adjustments to input tax credits on account of tax free sales [Field 4(i)], please ensure that you reduce your input tax credit by the required amount for the part of the taxable purchases used for making tax free sales, if such adjustments have not been declared in your quarterly returns.

Input tax for the year

B/f from previous year

Reverse tax, if any

Admissible input tax credit for the year