THE PUNJAB VALUE ADDED TAX FORMS, 2005.
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FORM VAT - 22B

AUDIT REPORT

1.	I/We report that the audit of M/s __________________ (mention name and address of the Registered person) holding VRN _______________ was conducted by me/us ______________ (mention the name of the auditor) in pursuance of provisons of ______________
2.	I/We annex hereto a copy of my/our/their audit report dated ____________ alongwith a copy each of the audited Profit and Loss A/c for the period/year ended on 31st March ____________ and Balance Sheet as at 31st March __________ and documents declared as part of and annexed thereto.
3.	(a) We report our observations/comments/discrepancies/inconsistencies, if any, as under:-
	(b) Subject to above:
	(A) I/We have obtained all the information and explanations which, to the best of my/our knowledge and belief, were necessary for the purposes of our audit and have found them to be satifactory.
	(B) In my/our opinion, proper books of account as required by law have been kept at the principal place of business and the branches of the person so far as it appears from our examination of the books.
	(C) In my/our opinion and to the best of my/our information and according to the explanations given to me/us, the said acconts, read with notes thereon, if any, give a true and fair view :-
	(i) In case of the balance sheet, of the state of the affairs of the dealer/person as at 31st March _______; and
	(ii) in the case of the Profit and Loss account of the profit/loss for the period ended on that date.

4.	The statement of the particulars as required to be furnished under Punjab Value Added Tax Act, 2005 and Punjab Value Added Tax Rules, 2005, is annexed herewith. In our opinion and to the best of our information and according to the explanations given to us, the particulars given in the said annexure are true and correct.

..............................................

Signatures of the

CHARTERED ACCOUNTANT

(Name)

(Proprietor/Partners)

Membership No ._____________

Address: ______________________________________________

Place :

Date :

Annexure - A

STATEMENT OF PARTICULARS

GENERAL INFORMATION

1.	Name of the person	:
2.	Address (principal place of business)	:
3.	VRN under Punjab Value Added Tax Act, 2005	:
4.	Constitution	:
5.	Income Tax PAN	:
6.	Period under audit	:
7.	Address of all branches and manufacturing Units within the state	:
8.	Address of branches and manufacturing Units outside the state	:
9.	Nature of business - resale/manufacture/ Importer/exporter/works contractor/lessor/	:
	Others (pl. Specify)
10.	Change in the nature of business (if any) (The brief particulars of such change)	:
11.	Changes in the constitution	:
	(The brief particulars of such change)
12.	(a) Books of account maintained.	:
	(In case books of account are Maintained in a computer system, mention the books of accounts Generated by such computer system)	:
(b)	List of books of account examined.	:
(c)	Method of Accounting followed and brief particulars of change, if any.	:
(d)	Method of valuation of stock and brief particulars of Change, if any.	:
13.	Classes of main goods dealt with by the person (Schedule entry wise classification of goods for sale as claimed by the person.)	:

Sr No.	Goods	Covered by Schedule	Entry at
1.
2.
3.

PART A

GROSS TURNOVER OF SALES AND PURCHASES

Particulars	Sales Rs.	Purchases Rs.
Sales/Purchases including sales and purchases/receipts and payments of account works contract, hire purchases etc. Within the state of Punjab.
Add: Goods returned debited/credited to accounts
Excise collected separately not credited to Sales A/c and Cenvat credit availed credited to Purchases A/c
Output Tax collected separately not credited to Sales A/c and input tax credit availed credited to Purchase A/c
Prevailing market price of sales/purchases under hire purchase
Sales/purchases of capital goods
Other sales/purchases
Other adjustments (if any), specify
TOTAL
Less : Hire charges received/paid included above
Goods returned in the prescribed manner gross of tax
Labour in case of works contract
Other adjustments (if any), specify
TAX COLLECTED
VAT
CST
TOTAL TURNOVER UNDER ACT
Less: Turnover of exempted goods within State
Turnover of export/import or in the course of export/Import outside the country
Inter State sales
Inter State Branch transfer/consignment Sales
BALANCE TURNOVER

5. DETERMINATION OF OUTPUT TAX ON SALES
RATE OF TAX		TURNOVER	OUTPUT TAX
1	1%
2	4%
3	General Rate 12.5%
4	20%
5	30%
TOTAL

6. DETERMINATION OF TAX ON PURCHASES
Balance Turnover of purchases
Purchases made u/s 19
Value of purchases of goods listed in Schedule - H purchased from outside the State.
Purchases made u/s 20
Turnover liable to tax

PURCHASE TAX PAYABLE
RATE OF TAX		TURNOVER	TAX
1	1%
2	4%
3	General Rate 12.5%
4	20%
5	30%
TOTAL

7. DETERMINATION OF INPUT TAX
(7A) ON CAPITAL GOODS
Rate	Turnover	Input Tax for the year	B/F from previous year	Reverse Tax (if any)	C/F to next year	Admissible Input Tax Credit for the year
1%
4%
12.5%
*TOTAL*

(7B) ON OTHER THAN CAPITAL GOODS
Rate of Tax	Turnover	Input Tax	Reverse Tax	Balance Input Tax
1%
4%
12.5%
20%
30%
TOTAL

(7C) ADMISSIBLE INPUT TAX CREDIT FOR THE TAX PERIOD
On Capital Goods for the year as per 7A above
On other Goods
Brought forward from previous year
For the year As per 7B above
TOTAL
Less: No credit since sales are exempted
Deduction on A/c of Inter-state Branch transfer /consignment sale
NET INPUT TAX CREDIT AVAILABLE FOR THE YEAR
8) TAX LIABILITY
Output Tax for the year (Total as per 5 above)
Less: Input Tax credit for the year (As per 7C above)
Tax on Purchases (As per 6 above)
Balance
Less: Tax Paid during the year
Balance Dues/Credit

OTHER INFORMATION/DISCREPANCIES

TURNOVER DISCLOSED IN RETURNS

Month

Total Sales

Total Deductions

Balance Turnover

Total Output Tax

Total Purchases

Total Deductions

Balance Turnover

Taxable Turnover

Tax on Purchases

Total Tax Payable (4+9)

Tota ITC Availed

Amount of tax paid during the period

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

Total:

(1) Whether there is delay in payment of tax. If so, please give particulars:

Sr No.	Due Date	Date of Payment	Amount	Delay	Interest Payable
1
2
3
..

(2) Whether there is delay in filling of returns:

Sr. No.	Period of Return	Due Date	Date of Filing	Reasons, if any
1
2
3
..

(3) Whether the person has deducted tax at source and paid the same to the credit of State Government in accordance with the provisions of Act and Rules. If there is delay in deposit of tax so deducted, please give details:

Sr. No.	Particulars	Amount of Tax deducted	Due Date for payment	Date of payment
1
2
3
..

(4) Whether all declarations for all sales claimed at concessional rate or value of purchases from the exempted units as required under Act and Rules are received. If not, given details :

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

(5)Give details of sales effected as commission agent :

Sr. No.	Name of Principal and Address	VRN/TIN No., if any	Total Sales	Output, if Any VAT/CST
1
2
3
..

PART B

A. SALES IN THE COURSE OF EXPORT OUTSIDE THE TERRITORY OF INDIA

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

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

B. INTER-STATE SALES:

1) Whether Inter-state sales claimed as liable to tax as per Section 8 (1) of CST Act are supported with declarations in Form 'C'. If not, give details:

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

(2) Whether all Inter-state Branch transfers/consignment sales are supported with Declaration in Form 'F'. If not, give details:

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

(3) Total taxable inter-state sales, as per books of account:

(4) Cental Sales Tax payable:

(5) Total taxable inter-state sales as per returns

Particulars	Sales	Tax payable	Tax paid
April
May
June
July
August
September
October
November
December
January
February
March
TOTAL:

Give reconciliation of difference in taxable sales as per books and as per return.

(6) Whether there is delay in filing of returns. If so, give details:

Sr. No.	Particulars	Due Date for filing	Date when filed
1
2
3
..

(7) Whether there is delay in payment of tax. If so, give details:

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

8) INPUT TAX ADJUSTMENTS INFORMATION

(In case Input Tax Credit is more than Output Tax)

Balance of Credit as per (8) above

Less: Adjustments : Against any dues under the Act

1) Period __________ to _________ Order Ref. ________

2) Against any dues under Central Sales Tax Act, 1956 Period

____________ to __________ Order ref. _______

3) Refund claimed on account of export sales

Date of Application ____________________________

4) Refund claimed in other cases, if any.

Date Application ______________________________

Sub 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 as per (7A)

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

Signature of Proprietor/	Signatures of the
Partner/Authorised Agent With Seal	____________________________________
	CHARTERED ACCOUNTANT
	Name :____________________________
	_____________________________________
Date: _____________	Status :____________________________
	Membership No. :____________________
Place: _________________	Address :___________________________
	___________________________________
	___________________________________