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MVAT AUDIT EXTENSION

SANJAY RATNAPARKHI (INDUSTRIAL TRADING) (26 Points)

15 November 2007

What are the last dates for submitting MAVT audit report in form no 704 for year 2005-2006 & 2006-2007? I heared about the extension of the dates for these 2 years. Is there any authentic notification on web? Please give me the website details. What are the fine/penalities if the MAVT audit report is not submitted within the time limit?

Sanjay Ratnaparkhi

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18 Replies

SANJAY RATNAPARKHI (INDUSTRIAL TRADING) (26 Points)
Replied 15 November 2007

somebody, Please respond urgently.

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(Guest)

Extract from MVAT amendment message from this forum The Hon'ble High Court has fixed the hearing of Writ Petition No. 3203 of 2006 regarding Form 704 in the month of December 2007. Therefore, date of filing of Form 704 is required to be extended. Accordingly, the date for filing of Form 704 in respect of the year 2005-06 is hereby extended to 31st December, 2007. 2. Date of filing of the Audit Report in Form 704 for the year 2006-07 is 30th November 2007. This date is also extended upto 31st December 2007. 3. Maharashtra Tax Laws (Levy, Amendment and Validation) Act, 2007 (Mah. Act No. XXV of 2007) has come into force from 5th August 2007 by which amendments to section 61 of the Maharashtra Value Added Tax Act, 2002 are made. It is decided administratively to give concessions to the dealers on following two points,- (a) Audit of the dealers who have not done their audit u/s. 61 and not submitted their Form 704 till today can get their accounts audited by "a Cost Accountant within the meaning of the Cost & Works Accountants Act, 1959" in respect of the years 2005-06 and 2006-07.

(Guest)

Dear Venu, Point No. 3 regarding Maharashtra Tax Laws (Levy, Amendment and Validation) Act, 2007 (Mah. Act No. XXV of 2007) is incomplete Regards Shashi

(Guest)

Incomplete Point.. (b) Government authorities who have not submitted their Form 704 till today are not required to submit their Form 704 now whether in respect of the year 2005-06 or 2006-07. These authorities as defined in the Act are as follows :- "Departments of the Union Government, any Department of any State Government, local authorities, the Railway Administration as defined under the Indian Railways Act, 1989, the Konkan Railway Railway Corporation Limited and the Maharashtra State Road Transport Corporation constituted under the Road Transport Corporation Act, 1959."

(Guest)

i have heard from reliable sources that date for MVAT AUDIT for the year 2006-07 has again been extended to 31ST March 2008. Is there is any circular, notificiation etc regarding this?

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Rajesh D. Mistry (consultancy) (21 Points)
Replied 15 May 2008

which is the due date of filling form 704 under mvat act

is there any composit scheme for works contrat for payment of tax @ 5%

biren thakkar (accounts manager) (231 Points)
Replied 21 May 2008

As per the latest High court Judgment the due date of filing MVAT Audit report for the year 2006-2007 is 30.06.2007

biren thakkar (accounts manager) (231 Points)
Replied 21 May 2008

As per the latest High court Judgment the due date of filing MVAT Audit report for the year 2006-2007 is 30.06.2007

(Guest)

circuler for VAT AUDIT REPORT Filing extenson

(Guest)

Originally posted by :Guest
"	circuler for VAT AUDIT REPORT Filing extenson	"

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(Guest)

please, somebody tell me, what is the last date for filing mvat audit report in form 704 for the period 2007-2008

(Guest)

what is the last date for filing mvat audit report in form 704 for the period 2007-2008

(Guest)

Originally posted by :Guest
"	which is the due date of filling form 704 under mvat act is there any composit scheme for works contrat for payment of tax @ 5%	"