06 November 2010
Form VAT – 20 The original Form VAT-20 should be used for filing annual statement for the year 2005-06.
(See rule 40 ) (Original) Annual Statement by a taxable person
(Please read the INSTRUCTIONS carefully before filling the form and worksheet)
VRN For period From_________ To_________ (dd.mm.yy.) (dd.mm.yy.)
PART A 1. SALES DETAILS As per Books As per Returns Filed Difference, if any (a) Gross Sales* (b) Less : Zero rated sales (c) Less : Inter-state sale (d) Less : Tax free sales (e) Less : Sales as an Exempted Unit (for exempted units only) (f) Less : Deductions ( Sales return, Cash/ trade discount etc) (g) Less Tax element included in sales (h) Net sales subject to VAT
1-A Branch Transfers/Consignment Transfers
2. PURCHASE DETAILS (a) Gross Purchases (excluding capital goods but including goods received by stock transfer) (b) Less : Imports from outside India (c) Less : Inter-state Purchases / goods received from Branches/principals outside Punjab (d) Less: Purchases from exempted units sold to persons other than taxable persons. (e) Less : Tax free Purchases (f) Less : Purchase liable to Purchase Tax u/s 19 (1) & 20 (g) Less : Deductions (purchase return and cash/ Trade discount etc.) (h) Net: purchases eligible for input tax credit [a-(b+c+d+e+f+g)] (i) Purchases of capital goods eligible for input tax credit
3. OUTPUT TAX (a) VAT on net taxable sales within the period (b) Add : Purchase Tax on turnover as per Col. 2(f) (c) Add/Less : Output tax for prior period adjustment. (d) Total Output tax • Gross sales will also include sale value of goods involved in the execution of works contract or taxable job work, but excludes Branch transfers and consignment transfers.
4. INPUT TAX CREDIT ON ACTUAL BASIS (a) ITC brought forward from previous year (b) Add ITC on Non capital goods (c) Add ITC on Capital goods (d) Add Instalment of ITC on stocks held on appointed day (e) Add TDS, if any, (f) Less: apportionment of ITC for manufacturing tax free goods (g) Less: apportionment of ITC for branch transfer (h) Add/Less: adjustment ITC for purchase return / discount (i) Add/Less: reversal of ITC (j) Total input tax credit available
4-A INPUT TAX CREDIT ON NOTIONAL BASIS (a) Brought forward from previous year (b) Add notional ITC on Non capital goods (c) Add notional ITC on Capital goods (d) Less: apportionment of notional ITC for manufacturing tax free goods (e) Reversal of notional ITC on account of sales (f) Reversal of Notional ITC on branch transfer and consignment (g) Reversal of Notional ITC on purchase return (h) Total notional input tax credit available
5. TAX PAYABLE/EXCESS INPUT TAX CREDIT (a) Total output tax [as per 3(d)] (b) Less : Total actual ITC as per col. 4 (j) (c) Difference (a-b) (If output tax is more than INPUT TAX, Balance be adjusted out of Notional ITC if any. Otherwise amount is to be deposited) (d) Excess ITC if any, after adjustment in (c) (i) Actual (ii) Notional (e) CST liability for the year (f) Excess actual ITC as per col. (d) if any (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) to be carried down to next year. (i) Actual (ii) Notional
6. DETAILS OF TAX PAYMENT DURING THE STATEMENT PERIOD Challan/instrument No. Date (dd.mm.yy) Bank/Treasury Branch code Amount
Declaration: I, solemnly declare that to the best of my knowledge and belief the information 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 DEALERS WHOSE TUNOVER EXCEEDS Rs. 50 LAKH.)
7. DETERMINATION OF OUTPUT TAX ON SALES Rate of tax Turnover Output tax 1 1% 2 4% 3 12.50% 4 20% 5 30% Total
8. BREAK UP OF ZERO RATED SALES (a) Category (b) Gross sales (c) Less : sales returns (d) Less : discounts (e) Net sales Sales against H from Export out of India Sale against E1/E2 forms
9. BREAKUP 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 charge 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 purchase from exempted unit and sold to person other than ‘taxable person’ Other (PI. specify nature ) Total deduction Total deduction
10. DETERMINATION OF TAX ON PURCHASE Purchases made U/S 19 (Schedule ‘H’ goods) Purchase made U/S 20 Turnover liable to tax.
11. PURCHASE TAX PAYABLE Rate of tax Turnover Tax 1 1% 2 4% 3 12.50% 4 20% 5 30% Total
DETERMINATION OF INPUT TAX (12 A) on capital goods Rate Turnover Input tax for the year B/f form previous year Reverse tax if any Admissible input tax credit for the year 4%
Total
(12 B) on goods other than capital goods Rate Turnover Input tax for the year B/f form previous year Reverse tax if any Admissible input tax credit for the year 1% 4% 12.5% 20% 30% Total
12 (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/consignment sales (d) (e) (B) Total : Net input tax credit available for the year (A-B) :
13. 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 delay 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 Governments according with the provision 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 declaration for all sales claimed at confessional rate or value of purchase from the exempted units as required under the Act & Rules all 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 of documents as required under the Pb VAT ACT and Rules, 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 sale clamed as liable to tax as per section 8( 1) or CST Act are supported with declaration forms C . If not, give details
Sr No Invoice No Date Name of Buyer Amount (RS) ITC Claimed 1 2 3
(b) Whether all interstate branch transfer / 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
Sr no Due date Amount Delay Interest payable 1 2 3 4
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 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 CHARTED 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.
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