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Maharashtra Value Added Tax Rules, 2005 FORMS
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Form 225

AUDIT REPORT

Form - 704

PART-2

SCHEDULE-V

 

TIN   PERIOD FROM   TO  
1.  Gross turnover of sales for the year    
  a)  Aggregate turnover considered under The Maharashtra Goods and Services Tax Act, 2017  

 

 

 

 

2 Computation of net turnover of sales liable to tax
  Particulars As per Return Amount As per Audit Amount Difference Amount (Rs.)
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 consignments and branch transfers covered under Schedule 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 but not confirmed by buyer.(Net taxable turnover with tax collected separately)      
e) Less:-Value of goods return within the 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) Less: - 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) 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 consignment transfers within the State if tax is to be paid by the 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 41 and u/s 8 other than sales under section 8(1) and covered in box 2(k)      
n) Less:- Labour job/labour work charges      
o) Less:-Other allowable deductions      
p) Less:- Deduction u/s 3(2)      
q) Balance:- Net turnover of sales liable to tax [(c+d)-(e+f+g+h+i+j+k+l+m+n+o+p)]      

3 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
 

Sch. Entry. No. Rate of Tax As per returns As per audit Difference in tax amount
Additional sales tax (Rs.) Sales turnover (Rs.) Quantity sold (Lits.) Tax amt. (Rs.) Additional sales tax (Rs.) Sales turnover (Rs.) Quantity sold (Lits.) Tax amt. (Rs.)
a Sch. D goods or from 1.7.201 7 Sch.'B' goods (Inter oil Co. sales of notified motor Sprits)                    
b D5(a)(i)/ B5(a)(i)                    
c D5(a)(ii)/B5(a)(ii)                    
d D5(b)/B5(b)                    
e D6/ B6                    
f D7/ B7                    
g D8/ B8                    
h D9/B9                    
i D10(a)(i)/B10(a)(i)                    
j D10(a)(ii)/B10(a)(ii)                    
k D10(b)/B10(b)                    
l D11/B11                    
m B12                    
n B13                    
o B14                    
p B15                    
A Sub-total (Total of a to p)                  
q C8                    
r C27                    
s C58(a)                    
t C58(b)                    
B Sub-total (Total of q to t)                  
u Others                    
v Others                    
w Others                    
x Others                    
C Sub-total (Total of u to x)                  
D Total (A+B+C)                  
a Sch. D goods or from 1.7.2017 Sch.'B' goods (Inter Oil Co. sales of notified Motor Sprits)                    
b D5(a)(i)/ B5(a)(i)                    
c D5(a)(ii)/B5(a)(ii)                    
d D5(b)/B5(b)                    
e D6/B6                    
f D7/B7                    
g D8/B8                    
h D9/B9                    
i D10(a)(i)/B10(a)(i)                    
j D10(a)(ii)/B10(a)(ii)                    
k D10(b)/B10(b)                    
l D11/B11                    
m B12                    
n B13                    
o B14                    
p B15                    
E Sub-total (Total of a to p)                  
q C8                    
r C27                    
s C58(a)                    
t C58(b)                    
F Sub-total (Total of q to t)                  
u Others                    
v Others                    
w Others                    
x Others                    
G Sub-total (Total of u to x)                  
H Total (E+F+G )                  
I Grand total (D - H)                  
4

Sales tax collected in excess of the amount tax payable Amount as per return Amount as per audit Difference amount
     

5. 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
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            
A Sub-total (Total of a to g)          
h            
i            
j            
k            
l            
m            
n            
B Sub-total (Total of h to n)          
C Total (A-B)          
6 Computation of purchases eligible for set-off
  Particulars As per return As per audit Difference amount
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 III      
c) Balance turnover of purchases ( a-b)      
d) Less:-Value of goods return, reduction of purchase price for 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 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 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 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)]      
7 Computation of purchase tax payable on the purchases effected during this period
 

Rate of tax As per returns As per audit Difference in tax
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              
f              
g              
h              
Total            
8 Tax rate wise breakup of within State purchases from registered dealers eligible for set-off as per box 6(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
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)            
9 Computation of set-off claimed
 

Particulars As per return As per audit Difference in tax amount
Purchase value (Rs.) Tax amt. (Rs.) Purchase value (Rs.) Tax amt. (Rs.)
a) Within the State purchases of taxable goods from registered/ unregistered dealer eligible for set-off as per box 7 and 8          
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 set- off of the corresponding purchase price of (Sch. B, C, D & E or Sch. B from 1.7.2017) goods Capital Assets          
Other than Capital Assets          
e)

Less: Denial in the amount of set-off u/r 54 of the corresponding purchase price Capital Assets          
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 Assets          
Other than Capital Assets          
g) Less:- Within the State purchases of capital asset from registered dealer having set-off withheld for staggered manner          
h) Set-off available for the period of this return [a-(b+c+c1+d+e+f+g)]          
i)

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

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 the period          
10

Computation of tax payable
Particulars As per return amount As per audit amount Difference amount
A Aggregate of refund available for the period covered under this Schedule
a) Set-off admissible as per box 9 (l)      
b) Refund brought forward from previous period      
c) Amount already paid (As per annexure A)      
d) Refund if any , as per Schedule III, to be adjusted against the liability as per Schedule V      
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 3 + sales tax payable as per box 5 + purchase tax payable as per box 7      
b) Adjustment on account of MVAT payable, if any as per Schedule III against the refund as per Schedule V.      
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 4 )      
g) Interest payable      
h) Late fee payable      
i)

Add: Reversal on account of set-off claimed 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 =[10A(i)-(10B(a)+10B(b)+10B(c)+ 10B(d)+ 10B(e)+ 10B(f)+ 10B(g) +10 B(h)+ 10 B(j))]      
l) Balance Amount payable=[10B(a)+10B(b)+10B(c)+ 10B(d)+ 10B(e)+ 10B(f)+ 10B(g)+ 10 B(h)+ 10B(j)- 10A(i)]      
C Utilisation of refund as per box 10B(k)
a) Refund carried forward to subsequent tax period      
b) Refund carried forward to Form GST TRAN-1of MGST Act,2017      
c) Refundclaimed (Box 10 B(k)- Box 10C(a)) or (Box 10 B(k)- Box 10C(b))      
D Tax payable
a) Total amount payable as per box 10B(l)