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Maharashtra Value Added Tax Rules, 2005 FORMS
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Form 223

AUDIT REPORT

Form - 704

PART-2

SCHEDULE-III

TIN     PERIOD FROM  

 

TO

 

 
1 Business activities (Please select one or more box, as applicable)
 

Execution of works contracts and ongoing works contract, including under composition option Leasing business Part of the business activity under composition option (Please tick one or more box, as applicable)
Retailer Restaurant , Club, Caterer etc. Baker Second hand motor vehicles
2 Gross turnover of sales for the year    
a) Aggregate turnover considered under The Maharashtra Goods and Services Tax Act,2017    
3 Computation of net turnover of sales liable to tax: PART-A
  Particulars As per return

As per Audit

Difference

a) Gross turnover of sales including, taxes as well as turnover of non-sales transactions like value of branch transfer, consignment transfers, job work charges etc.      
b) Less:- Turnover of sales (including taxes thereon) including Inter-State consignment transfers and branch transfers covered under Schedule IV or V      
c) Balance :- Turnover considered under this Schedule (a-b)      
d) Add:- Value of goods return including reduction of sale price on account of rate difference and discount claimed but not confirmed by buyer.(Net taxable turnover with tax collected separately)      
e) Less:-Value of goods return within State for this period excluding taxable turnover with tax      
f) Less:- Credit note, price on account of rate difference and discount within State for this period excluding taxable turnover with tax.      
g) Value of goods return including reduction of sale price on account of rate difference and discount confirmed by buyer (Net taxable turnover with tax collected separately)      
h) Balance:- Turnover of sales including, taxes as well as turnover of non-sales transactions like value of branch transfer, consignment transfers, job work charges, etc. ( (c+d)-(e+ f))      
i) Turnover of sales under composition scheme(s) , other than works contracts under composition option (Computation of turnover of sales liable to tax to be shown in 5 Part B) Not deducted from (h)      
j) Turnover of sales under works contracts under composition option (Computation of turnover of sales liable to tax before sub-contractor or principal contractor deduction ) Not deducted from (h)      
k) Turnover of sales (excluding taxes) relating to on-going works contracts (Computation of turnover of sales liable to tax to be shown in 7 Part C) Not deducted from (h)      
l) Turnover of sales (excluding taxes) relating to on-going leasing contracts (Computation of turnover of sales liable to tax to be shown in 8 Part D) Not deducted from (h)      
m) Balance: Net turnover of sales including, taxes, as well as turnover of non-sales transactions like branch transfers / consignment transfers and job works charges , etc.(h)-(i+j+k+l)      
n) Less:-Net tax amount ( Tax included in sales shown in (c) above      
o) Total value in which tax is not collected separately ( Inclusive of tax with gross amount ) Not deducted from (m)      
p) Less:-Value of branch transfers/ consignment transfers within the State if the tax is to be paid by an agent      
q) Less:-Sales u/s 8 (1) i.e. Inter-State sales including central sales tax, sales in the course of imports, exports and value of branch transfers/ consignment transfers outside the State      
r) Less:- Non-taxable labour and other charges / expenses u/r 58(1), cost of land u/r 58(1A), deduction u/r 58(1B) for execution of works contract      
s) Less:- Amount paid by way of price for sub-contract where tax is borne by sub-contractor      
t) Less:- Amount paid by way of price for sub-contract where tax is borne by principal contractor      
u) Less:-Sales of tax-free goods specified in Schedule "A"      
v) Less:-Sales of taxable goods fully exempted u/s 41 and u/s. 8 other than sales under section 8(1) and covered in Box 3(q)      
w) Less:-Labour charges /job work charges      
x) Less:-Other allowable deductions, if any      
y) Less:- Deduction under Section 3(2)      
z) Balance: Net turnover of sales liable to tax [m-(n+p+q+r+s+t+u+v+w+x+y)

To be shown in table 3,4,4A,5,6,7,8 9 & 11

     
4. Computation of tax under works contracts by way of composition option payable under the MVAT Act

LESS

Value of goods return including reduction of sale price on account of rate difference and discount

 

Rate of Tax

As per Returns As per Audit  

 

Difference in Tax Amount

(Rs.)

Turnover of sales liable to tax (Rs.) Tax Amount

(Rs.)

Turnover of sales liable to tax (Rs.) Tax Amount (Rs.)
a            
b            
c            
d            
A Sub total (Total of a to d)          
e            
f            
g            
h            
B Sub total (Total of e to h)          
C Total (A-B)          
4A. Computation of tax under works contracts by way of composition (Inclusive of tax)
 

Rate of Tax

As per Returns As per Audit  

 

Difference in Tax Amount

(Rs.)

    Turnover of sales liable to tax (Rs.) Tax Amount

(Rs.)

Turnover of sales liable to tax (Rs.) Tax Amount (Rs.)  
b

           
           
c            
d            
D Sub total (Total of a to d)          
e            
f            
g            
h            
E Sub total (Total of e to h)          
F Total (D-E)          
G Grant total (C+F)          
5 Computation of net turnover of sales liable to tax under composition ( PART-B )
  Particulars As per return As per audit Difference
A Turnover of sales (excluding taxes) under composition scheme(s) [Same as 3(i)]      
B RETAILER
a) Total turnover of sales      
b) Less:-Turnover of sales of goods excluded from the composition scheme      
c) Less:- Allowable deductions, etc.      
d) Balance: Net turnover of sales liable to tax under composition option [a-(b+c)]      
C RESTAURANT, CLUB, CATERER ETC
a) Total turnover of sales.      
D BAKER
a) Total Turnover of sales      
E SECOND HAND MOTOR VEHICLES DEALERS
a) Total turnover of sales      
b) Less: Allowable reductions/ deductions      
c) Balance: Net turnover of sales, liable to tax under composition option ( a-b)      
F) LEASE COMPOSITION DEALER
a) Total turnover of sales      
b) Less: Allowable reductions/ deductions      
c) Balance: Net turnover of sales, liable to tax under composition option ( a-b)      
G) Total net turnover of sales liable to tax under composition option [5(B) (d) + 5(C) (a) + 5(D) (a) + 5(E) (c) + 5(F)(c )]      
 

6 Computation of sales tax payable by way of composition other than works contract under the MVAT Act

LESS

Value of goods return including reduction of sale price on account of rate difference and discount

 

Rate of tax As per returns As per audit Difference in tax amount (Rs.)
Turnover of sales liable to tax Tax amount Turnover of sales liable to tax Tax amount
a            
b            
c            
d            
e            
f            
g            
h            
i            
j            
A Sub-total(Total of a to j)          
k            
l            
m            
n            
o            
p            
q            
r            
s            
t            
B Sub-total (Total of k to t)          
C TOTAL ( A-B )          
7 Computation of net turnover of sales relating to on-going works contracts liable to tax under section 96(1)(g) of the MVAT Act 2002 (PART-C)
  Particulars As per return (Rs.) As per audit (Rs.) Difference (Rs.)
a) Turnover of sales (excluding tax/composition) relating to on-going work contract during this period [same as box 3(k)]      
b) Less:-Turnover of sales exempted from tax      
c) Less:-Deduction u/s 6 of the earlier law      
d) Less:-Deduction u/s.6A of the earlier law      
e) Balance: Net turnover of sales liable to tax/ composition [a-(b+c+d)]      
8 Computation of net turnover of sales relating to on-going leasing contracts liable to tax under sec 96(1) (f) of the MVAT Act, 2002 ( PART-D)
  Particulars As per return (Rs.) As per audit (Rs.) Difference (Rs.)
a) Turnover of sales (excluding taxes) relating to ongoing leasing contracts [same as box 3(l)]      
b) Less: Turnover of sales exempted from tax.      
c) Balance: Net turnover of sales liable to tax (ab)      

9 Computation of sales tax collected separately under the MVAT Act as per box 3(z), 7(e), 8(c) LESS Value of goods return including reduction of sale price on account of rate difference and discount
 

Rate of tax As per returns As per audit Difference in tax amount (Rs.)
Turnover of sales liable to tax Tax amount Turnover of sales liable to tax Tax amount
a            
b            
c            
d            
e            
f            
g            
h            
i            
A Sub-total(Total of a to i)          
j            
k            
l            
m            
n            
o            
p            
q            
r            
B Sub-total (Total of j to r)          
C TOTAL ( A-B )          
  Particulars As per return (Rs.) As per audit (Rs.) Difference (Rs.)
10 Sales tax collected in excess of the amount of tax payable      
11 Computation of sales tax payable in respect of sales effected inclusive of tax under the MVAT Act LESS Value of goods return including reduction of sale price on account of rate difference and discount
 

Rate of tax As per returns As per audit Difference in tax amount (Rs.)
Turnover of sales liable to tax Tax amount Turnover of sales liable to tax Tax amount
a            
b            
c            
d            
e            
f            
g            
h            
i            
j            
A Sub-total(Total of a to j)          
k            
l            
m            
n            
o            
p            
q            
r            
s            
t            
B Sub-total (Total of k to t)          
C TOTAL ( A-B )          
12 Computation of purchases eligible for set-off
  Particulars As per return (Rs.) As per audit (Rs.) Difference (Rs.)
a) Total turnover of purchases including taxes, value of branch transfers/ consignment transfer received and job work charges      
b) Less:- Turnover of purchases covered under Schedule IV or V      
c) Balance:- Turnover of purchases considered in this Schedule (a-b)      
d) Less:-Value of goods return, reduction of purchase price for period excluding within State taxable turnover with tax paid separately.      
e) Less: -Reduction of purchase price on account of rate difference and discount for period excluding within the State taxable turnover with tax paid separately.      
f) Less:-Imports(Direct imports)      
g) Less:-Imports (High seas purchases)      
h) Less:- Inter-State purchases of taxable goods against certificate in Form'H'      
i) Less:- Within the State purchases of taxable goods against certificate in Form'H'      
j) Less:-Inter-State purchases (Excluding purchases against any certificate and declaration in form C, H, F, I)      
k) Less:-Inter-State branch/ consignment transfers received      
l) Less:- Inter-State purchases of taxable goods against declaration in Form'C'      
m) Less:- Within the State purchases of taxable goods against declaration in Form'C'      
n) Less:- Within the State branch transfers /consignment transfers received where tax is to be paid by an agent      
o) Less:-Within the State purchases of taxable goods from un-registered dealers      
p) Less:- Inter-State purchases of taxable goods against declaration in Form'I'      
q) Less:-Within the State purchases of taxable goods which are fully exempted from tax u/s 41 and u/s 8 but not covered under section 8(1)      
r) Less:-Within the State purchases of tax-free goods specified in Schedule "A"      
s) Less:- Within the State labour job/ labour charges paid      
t) Less:- Within the State other allowable reductions, if any      
u) Less:-Within the State purchases of taxable goods from registered dealers where tax is not collected separately (Inclusive of tax)      
v) Less:- Within the State purchases of taxable goods purchase from composition dealer u/s 42(1), (2)      
w) Less:- Deduction under Section 3(2)      
x) Balance: Within the State purchases of taxable goods from registered dealers eligible for setoff [c-(d+e+f+g+h+i+j+k+l+m+n+o+p+q+r+s+t+u+v+w)]      
13 Computation of purchase tax payable on the purchases effected during this period
 

Rate of tax As per returns As per audit Difference in tax amount (Rs.)
Turnover of sales liable to tax (Rs.) Tax amount (Rs.) Turnover of sales liable to tax (Rs.) Tax amount (Rs.)  
a            
b            
c            
d            
e            
f            
  TOTAL          
14 Tax rate wise breakup of within State purchase from registered dealers eligible for set-off as per box 12(x) LESS Value of goods return including reduction of sale price on account of rate difference and discount
 

Rate of tax As per returns As per audit Difference in tax amount (Rs.)
Net turnover of purchases (Rs.) Tax amount (Rs.) Net turnover of purchases (Rs.) Tax amount (Rs.)
a            
b            
c            
d            
e            
f            
g            
h            
i            
j            
A Sub-total(Total of a to j)          
k            
l            
m            
n            
o            
p            
q            
r            
s            
t            
B Sub-total (Total of k to t)          
C TOTAL ( A-B )          
15 Computation of set-off claimed
 

Particulars As per return As per audit Difference in tax amount
Purchase value Tax amount Purchase value Tax amount
a) Within the State purchases of taxable goods from registered/ unregistered dealers eligible for set-off as per Box 13 and 14          
b) Less:- Set-off denial on account of purchases from dealer whoseregistration certificate is cancelled or composition dealer          
c) Less: Amount of Set-off not admissible u/r 52A          
c1 Less: Amount of Set-off not admissible u/r 52B          
d)

Less: Reduction u/r 53 in the amount of set-off of the corresponding purchase price of (Sch. B, C, D & E or Sch.B from 1.7.2017) goods Capital Asset        
Other than Capital Assets        
e)

Less: Denial in the amount of set-off u/r 54 of the corresponding purchase price Capital Asset        
Other than Capital Assets        
f)

Less:-Within the State purchases of taxable goods from registered dealers under MVAT Act, 2002 and set-off not claimed.

Capital Asset        
Other than Capital Assets        
  g) Less:- Within the State purchases of capital asset from registered dealer set-off withheld for staggered manner      
  h) Set-off available for this period [a-(b+c+c1+d+e+f+g)]          
 

i) Add:- Allowance of set-off reversed Capital Asset        
Other than Capital Assets        
 

j) Less:- Reduction u/r 52A, 52B, 53 and denial u/r 54 out of above i Capital Asset(with staggered Set-off )        
Other than Capital Assets        
  k) Add: Allowance of set-off not claimed on goods return          
  l) Total set-off admissible for this          
16 Computation of tax payable
  Particulars As per return As per audit Difference
A Aggregate of refund available for the period covered under this Schedule
a) Set-off admissible as per box 15 (l)      
b) Refund brought forward from previous period      
c) Amount already paid (As per annexure A )      
d) Refund if any, as per Schedule IV/V, to be adjusted against the liability as per Schedule III      
e) Adjustment of entry tax paid under Maharashtra Tax on Entry of Goods into Local Areas Act, 2002      
f) Adjustment of entry tax paid under Maharashtra Tax on Entry of Motor Vehicle into Local Areas Act, 1987      
g) Amount of tax deducted at source u/s 31      
h) Amount of tax collected at source u/s 31A      
i) Refund adjustment order amount (As per annexure A )      
j) Total available refund (a+b+c+d+e+f+g+h+i)      
B Total tax payable and adjustment of CST/ET payable against available refund
a) Sales tax payable as per box 4A(G)+ sales tax payable as per box 6 +sales tax payable as per box 9 + sales tax payable as per box 11+ purchase tax payable as per box 13      
b) Adjustment on account of MVAT payable, if any as per Schedule IV/V against refund as per Schedule III.      
c) Adjustment on account of central sales tax payable as per Schedule VI for this period      
d) Adjustment on account of entry tax payable under Maharashtra Tax on Entry of Goods into Local Areas Act, 2002      
e) Adjustment on account of entry tax payable under Maharashtra Tax on Entry of Motor Vehicle into Local Areas Act, 1987      
f) Amount of tax collected in excess of the amount of sales tax payable if any ( as per box 10)      
g) Interest payable      
h) Late fee payable      
i)

Add: Reversal on account of setoff claimed Excess Capital Assets      
Other than Capital Assets      
j)

Reduction u/r 52A, 52B, 53 and denial u/r 54 out of above (i) Capital Assets (with staggered Set-off )

     
Other than Capital Assets      
k) Balance: Refund =[16A(j)-(16B(a)+16B(b)+16B(c)+ 16B(d)+ 16B(e)+ 16B(f)+ 16B(g)+16 B(h)+ 16B(j))]      
l) Balance Amount payable= [16B(a)+16B(b)+16B(c)+ 16B(d)+16B(e)+16 B(f)+ 16 B(g) +16 B(h) +16B(j) -16A(j)]      
C Utilisation of refund as per box 16B(k)
  a) Refund carried forward to subsequent tax period      
  b) Refund carried forward to Form GST TRAN-1 of MGST Act,2017      
  c) Refund claimed (Box16 B(k)- Box 16C(a) or (Box16 B(k)- Box 16 C (b))      
D Tax payable
  d) Total amount payable as per box 16 B(l)