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Maharashtra Value Added Tax Rules, 2005 FORMS
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Form 224

AUDIT REPORT

Form - 704

PART-2

SCHEDULE-IV

TIN   PERIOD FROM   TO  
1 Eligibility Certificate (EC) No. Certificate of Entitlement (COE) No. Mode of Incentive Type of Unit
a)        
b)        
c)        
d)        
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
  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 transfers/consignment Transfers and job work charges etc.      
b) Less : Turnover of sales (including taxes thereon) including Inter-State consignments and branch transfers covered under Schedule I or III      
c) Balance:- Turnover of sales including, taxes as well as turnover of non-sales transactions like value of branch transfers/consignment transfers, job work charges etc. [(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 for this period. (Net taxable turnover with tax collected separately)      
h) Less:-Net tax amount ( Tax included in sales shown in (c) above      
i) Less:- Total value in which tax is not collected separately. (Inclusive of tax with gross amount )      
j) Less:-Value of branch transfers / consignment transfers within the State if tax is to be paid by an Agent.      
k) 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      
l) Less:-Sales of tax-free goods specified in Schedule "A"      
m) Less:-Sales of taxable goods fully exempted u/s 8(4) [other than sales u/s 8(1) and shown in box 3(n)]      
n) Less:-Sales of taxable goods fully exempted u/s 41 and u/s 8 other than sales u/s 8(1) & 8(4) covered in box 3(m)      
o) Less:- Labour job /labour work charges      
p) Less:-Other allowable deductions, as per Sale annexure      
q) Less:- Deduction u/s 3(2)      
r) Balance:- Net turnover of sales liable to tax [(c+d)- (e+f+g+h+i+j+k+l+m+n+o+p+q)]      
4 Computation of sales tax collected separately under the MVAT Act

LESS

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

I Turnover of sales eligible for incentive (Deferment of tax)
 

Rate of tax As per returns As per audit Difference in tax amount
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            
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)          
II. Other sales (Turnover of sales non-eligible for incentive)
 

Rate of tax As per returns As per audit Difference in tax amount
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            
g            
D Sub-total (Total of a to g)          
h            
i            
j            
k            
l            
m            
n            
E Sub-total (Total of h to n)          
F Total ( D-E)          
G Total (C+F)          
5

Sales tax collected in excess of the amount tax payable As per returns As per audit Difference
     
6 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 (Rs.) Tax amount (Rs.) Turnover of sales liable to tax (Rs.) Tax amount (Rs.)
a            
b            
c            
d            
e            
f            
g            
h            
A Sub-total (Total of a to h)          
i            
j            
k            
l            
m            
n            
o            
p            
B Sub-total (Total of i to p)          
C Total (A+B)          
7 Computation of purchases eligible for set-off
  Particulars As per return As per audit Difference
a) Total turnover of purchases including taxes, value of branch transfers / consignment transfers received and job work charges      
b) Less:- Turnover of purchases covered under Schedule I or Schedule III      
c) Balance turnover of purchases ( a-b)      
d) Less:-Value of goods return, reduction of purchase price for this period excluding within the State taxable turnover with tax paid separately.      
e) Less:- Reduction of purchase price on account of rate difference and discount for this period excluding within State taxable turnover with tax paid separately.      
f) Less:-Imports (Direct imports)      
g) Less:-Imports (High seas purchases)      
h) Less:- Interstate 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 transfer, 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 consignment transfers received if the tax is to be paid by an agent      
o) Less:-Within the State purchases of taxable goods from unregistered 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 deductions, 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 u/s 3(2)      
x) Balance: Within the State purchases of taxable goods from registered dealers eligible for set-off. [(c-(d+e+f+g+h+i+j+k+l+m+n+o +p+q+r +s+t+u+v+w)]      

8 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
Turnover of purchases liable to tax (Rs.) Tax amount (Rs.) Turnover of purchases liable to tax (Rs.) Tax amount (Rs.)
a)            
b)            
c)            
d)            
e)            
Total          
9 Tax rate wise breakup of within State purchases from registered dealers eligible for set-off or refund as per box 7 (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            
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)          
10 Computation of set-off /refund claimed
  Rate of tax As per returns 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/ refund as per box          
  b) Less:- Set-off denial on account of purchases from dealer whose registration 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 refund /set-off of the 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 refund /set-off under rule 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 setoff 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) Less:- Amount of setoff/ refund u/r 79(2) relating to raw materials for use in manufacture of goods eligible          
  for incentives          
  j) Amount of set-off relating to other purchases ( h-i )

 

         
  k)

 

Add:- Allowance of set-off reversed

 

 

 

Capital Asset        
Other than Capital Assets        
  l)

Less:- Reduction u/r 52A, 52B, 53 and denial u/r 54 out of above (k) 

 

Capital Assets (with staggered Set-off )

       
Other than Capital Assets        
m) Add:- Allowance of set-off not claimed on goods return          
n) Total set-off admissible for this period          
11

Computation of tax payable
Particulars As per return As per audit Difference
A Aggregate of refund available for the tax period      
a) Set-off admissible as per box 10 (n)      
b) Refund brought forward from previous period      
c) Amount already paid (As per annexure A)      
d) Refund if any , as per Schedule I or Schedule III , to be adjusted against the liability as per Schedule IV      
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 collected at source u/s 31A      
h) Refund adjustment order amount (As per annexure A)      
i) Total available refund (a+b+c+d+e+f+g+h)      
B Total tax payable and adjustment of CST/ET payable against available refund
a) Sales tax payable as per box 4(G) + sales tax payable as per box 6+ purchase tax payable as per box 8      
b) Less :-Sales tax deferred (Tax amount as per box 4(I)(C) + box 6)      
c) Balance:- Sales tax payable on non-eligible sales (Tax amount as per box 4(II)(F)) and box 8 { (a)- (b)}      
d) Adjustment of MVAT payable, if any as per Schedule I or Schedule III against refund as per Schedule IV      
e) Adjustment on account of central sales tax payable as per Schedule VI for this period      
f) Adjustment on account of entry tax payable under Maharashtra Tax on Entry of Goods into Local Areas Act, 2002      
g) Adjustment on account of entry tax payable under Maharashtra Tax on Entry of Motor Vehicle into Local Areas Act, 1987      
h) Amount of sales tax collected in excess of the amount of the sales tax payable if any ( as per box 5 )      
i) Interest payable      
j) Late fee payable      
k)

Add: Reversal on account of set-off claimed Capital Assets      
Other than Capital Assets      
l)

Reduction u/r 52A,52B, 53 and denial u/r 54 out of above (k) Capital Assets (with staggered set off)      
Other than Capital Assets      
m) Balance: Refund [11A(i)-(11 B(c)+11 B(d)+11 B(e) + 11 B(f) + 11 B(g) + 11B(h)+ 11B(i) +11 B(j)+11B(l)] n) Balance amount payable [11B(c)+11B(d)+11B(e)+11B(f)+11B(g)+ 11B(h) +11B(i)+ 11B(j)+ 11B(l)-11A(i)]      
C Utilization of refund as per box 11 B(m)
a) Refund carried forward to subsequent tax period      
b) Refund carried forward to Form GST TRAN- 1of MGST Act,2017      
c) Refund claimed [Box ( 11B(m) - 11C(a)] or [ Box ( 11B(m) - 11C(b)]      
D Tax payable
a) Total amount payable as per box 11B(n)      
12 Details of benefits availed under the package Scheme of Incentives (Details to be given separately for each E.C.)
  COE No. Eligibility Period From To Location of the Unit
             
12A A calculation of cumulative quantum of benefits (CQB) u/r 78(2)(a)
 

Rate of tax As per Returns As per Audit Difference in CQB amount
Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.) Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.)
a)            
b)            
c)            
d)            
e)            
f)            
  Sub-total-A          
12B Calculation of cumulative quantum of benefits (CQB) u/r 78(2)(b)
 

Rate of tax As per Returns As per Audit Difference in CQB amount
Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.) Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.)
a)            
b)            
c)            
d)            
e)            
f)            
g)            
  Sub-Total-B          
12C Total (A+B)          
  12D   Calculation of deferment benefit u/r 81
 

  Particulars

 

 As per returns As per audit Difference in eferrable tax amount
Turnover of sales of eligible goods liable to tax (Rs.) Tax amount (deferrable) (Rs.) Turnover of sales of eligible goods liable to tax (Rs.) Tax amount (deferrable) (Rs.)
a) Amount of MVAT payable          
b) Amount of CST payable          
c) Total amount of tax deferred (a+b)          
12- E Status of CQB u/r 78 / Tax deferment u/r 81
  Particulars As per return As per audit Difference
a) Sanctioned monetary ceiling      
b) Opening balance of the monitory ceiling at the beginning of the period for which this Schedule is filed      
c) Less: Amount of CQB / tax deferment for the period of this Schedule as per Box 12 C or 12- D (c), as the case may be      
d) Less: Amount of refund claimed as per rule 79 (2)      
e) Less:-Benefit of luxury tax claimed for Tourism Incentive Scheme(TIS-99) under Luxury Tax Act, 1987 for this period.      
f) Closing balance of the monitory ceiling at the end of the period [( b) - (c+d+e)]      
13 Details of benefits availed under the package Scheme of Incentives (Details to be given separately for each E.C.)
  COE No. Eligibility period From To Location of the Unit
             
13A A calculation of cumulative quantum of benefits (CQB) u/r 78(2)(a)
 

Rate of tax As per returns As per audit Difference in CQB amount
Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.) Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.)
a)            
b)            
c)            
d)            
e)            
f)            
  Sub-total-A          
13B Calculation of cumulative quantum of benefits (CQB) u/r 78(2)(b)
 

Rate of tax As per returns As per audit Difference in CQB amount
Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.) Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.)
a)            
b)            
c)            
d)            
e)            
f)            
g)            
  Sub-total-B          
13- C Total (A+B)          
13-D Calculation of deferment benefit u/r 81
 

Particulars As per returns As per audit Difference in deferrable tax amount
Turnover of sales of eligible goods liable to tax (Rs.) Tax amount (deferrable) (Rs.) Turnover of sales of eligible goods liable to tax (Rs.) Tax amount (deferrable) (Rs.)
  a) Amount of MVAT payable

 

         
  b) Amount of CST payable

 

         
  c) Total amount of tax deferred (a+b)

 

         
13- E Status of CQB u/r 78 / Tax deferment u/r 81
  Particulars As per return As per audit Difference
a) Sanctioned monetary ceiling      
b) Opening balance of the monitory ceiling at the beginning of the period for which this Schedule is filed      
c) Less: Amount of CQB / tax deferment for the period of this Schedule as per box 13C or 13-D (c), as the case may be      
d) Less: Amount of refund claimed as per rule 79 (2)      
e) Less:-Benefit of luxury tax claimed for Tourism Incentive Scheme (TIS-99) under Luxury Tax Act, 1987 for this period.      
f) Closing balance of the monitory ceiling at the end of the period [( b) - (c+d+e)]      
14 Details of benefits availed under the package Scheme of Incentives (Details to be given separately for each E.C.)
  COE No. Eligibility period From To Location of the Unit
             
14A A calculation of cumulative quantum of benefits (CQB) u/r 78(2)(a)
  Rate of tax As per returns As per audit Difference in CQB amount
Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.) Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.)
a)            
b)            
c)            
d)            
e)            
f)            
  Sub-Total-A          
14B Calculation of cumulative quantum of benefits (CQB) u/r 78(2)(b)
Sr. No. Rate of tax As per returns As per audit Difference in CQB amount
Turnover of sales of eligible goods liable to tax CQB amount Turnover of sales of eligible goods liable to tax CQB amount
a)            
b)            
c)            
d)            
e)            
f)            
g)            
  Sub-Total-B          
14-C Total (A+B)          
14- D Calculation of deferment benefit u/r 81
  Particulars As per returns As per audit Difference in deferrable Tax amount
Turnover of sales of eligible goods liable to tax (Rs.) Tax amount (deferrable) (Rs.) Turnover of sales of eligible goods liable to tax (Rs.) Tax amount (deferrable) (Rs.)
a) Amount of MVAT payable          
b) Amount of CST payable          
c) Total amount of tax deferred (a+b)          
14- E Status of CQB u/r 78 / Tax deferment u/r 81
  Particulars As per return As per audit Difference
a) Sanctioned monetary ceiling      
b) Opening balance of the monitory ceiling at the beginning of the period for which this Schedule is filed      
c) Less: Amount of CQB / tax deferment for the period of this Schedule as per box 14 C or 14 D (c), as the case may be      
d) Less: Amount of refund claimed as per rule 79 (2)      
e) Less:-Benefit of luxury tax claimed for Tourism Incentive Scheme (TIS-99) under Luxury Tax Act, 1987 for this period.      
f) Closing balance of the monitory ceiling at the end of the period [( b) - (c+d+e)]      
15 Details of benefits availed under the Package Scheme of Incentives (Details to be given separately for each E.C.)
  COE No. Eligibility period From TO Location of the Unit
             
15A A calculation of cumulative quantum of benefits (CQB) u/r 78(2)(a)
  Rate of tax As per returns As per audit Difference in CQB amount
Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.) Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.)
a)            
b)            
c)            
d)            
e)            
f)            
  Sub-total-A          
15B Calculation of cumulative quantum of benefits (CQB) u/r 78(2)(b)
  Rate of tax As per returns As per audit Difference in CQB amount
Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.) Turnover of sales of eligible goods liable to tax (Rs.) CQB amount (Rs.)
a)            
b)            
c)            
d)            
e)            
f)            
g)            
  Sub-Total-B          
15- C Total (A+B)          
15- D Calculation of deferment benefit u/r 81
  Particulars As per returns As per audit Difference in deferrable tax amount
Turnover of sales of eligible goods liable to tax (Rs.) Tax amount (deferrable) (Rs.) Turnover of sales of eligible goods liable to tax (Rs.) Tax amount (deferrable) (Rs.)
a) Amount of MVAT payable          
b) Amount of CST payable          
c) Total amount of tax deferred (a+b)          
15-E Status of CQB u/r 78 / tax deferment u/r 81
  Particulars As per return As per audit Difference
a) Sanctioned monetary ceiling      
b) Opening balance of the monitory ceiling at the beginning of the period for which this Schedule is filed      
c) Less: Amount of CQB / tax deferment for the period of this return as per box 15 C or 15 D (c), as the case may be      
d) Less: Amount of refund claimed as per rule 79 (2)      
e) Less:-Benefit of luxury tax claimed for Tourism Incentive Scheme (TIS-99) under Luxury Tax Act, 1987 for this period.      
f) Closing balance of the monitory ceiling at the end of the period [( b) - (c+d+e)]