Submission of Audit Report in Form 704 for the year 2005-06.

8^th floor, Vikrikar Bhavan,

Mazgaon, Mumbai-400 010.

TRADE CIRCULAR

To

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No.VAT/MMB-1006/152/Adm-3                                                               Mumbai, dt. 23.08.2007

Trade  Cir.  No. 58 T of   2007

    Sub:   Submission of Audit Report in Form 704 for the year 2005-06.

    Ref:   1)  Writ petition No. 3203 of 2006.  The Sales Tax practitioner

                  Association of Maharashtra and Another Versus The State of

                  Maharashtra and Another.

              2)  Trade circular No. 9T of 2007, Mumbai dated 29.01.2007.

              3)  Trade circular No. 20T of 2007, Mumbai dated 27.02.2007.

              4)  Trade Circular No. 36T of 2007, Mumbai dt. 28.4.2007.

              5)  Trade circular No. 45T of 2007, Mumbai dated  20.6.2007.

              6)  Trade circular No. 49T of 2007,  Mumbai dated 30.6.2007.

              7)  Trade circular No. 51T of 2007,  Mumbai dated 31.7.2007.

Gentlemen/Sir/Madam,

          The Hon’ble High Court has directed the Sales Tax Department to extend the date of filing the audit report in Form 704 for the year 2005-06, upto 31^st October 2007.  Accordingly, the date for filing of Form 704 in respect of the year 2005-06 is hereby extended to 31^st October, 2007. 

2.    If any discrepancies are shown in the Audit Report regarding the relevant underlying returns already filed by the dealer, then a revised return is to be filed.  In such cases, the last date for filing of this revised return is now extended to 30^th November 2007.  No legal action will be taken against the dealers who abide by the above mentioned revised deadlines.

3.       Though the dates are extended, the dealers are advised to submit Form 704 as early as possible before the extended date to avoid last minute rush.  The Chartered Accountants should phase out their work in such a manner that the submission of audit reports in form 704 is spread over the extended period, if not already submitted, so that there will not be any inconvenience to any one.

4.       In the year 2005-06, dealers were holding old B.S.T.R.C.Nos. which must be shown in the audit report form 704.  From 1.4.2006 these numbers have been replaced by TIN.  It is requested that while filling Form 704, the corresponding TIN should also be shown in the right hand top corner of the front page the form in bold letters with borders in red ink as shown below:

          This will facilitate the department to update the dealer’s data and will also be helpful to the dealers.

5.        Dealers are also requested to submit their e-mail addresses at the time of filing the audit report in form-704.

6.          In areas other than Mumbai, form 704 will be accepted in the office of the respective Joint Commissioner of Sales Tax (Adm).  In the places where the office of the Joint Commissioner of Sales Tax is not located, it will be accepted in the office of the Deputy Commissioner of Sales Tax (Adm) or Assistant Commissioner of Sales Tax (Adm), as the case may be.

7.       This circular cannot be made use of for legal interpretation of provisions of law as it is clarificatory in nature. If any member of the trade has any doubt, he may refer the matter to this office for further clarification.

 8.      You are requested to bring the contents of this circular to the notice of the members of your association.

Yours faithfully,

(SANJAY BHATIA)

 Commissioner of Sales Tax,

  Maharashtra  State , Mumbai.

No.VAT/MMB-1006/152/Adm-3                                                               Mumbai, dt. 23.08.2007

Trade  Cir.  No. 58 T of   2007

1.    Copy forwarded to:

a.    All the Addl. Commissioners of Sales Tax, in the State.

b.   All the Joint Commissioners of Sales Tax in the State.

c.    All the Sr. Dy. Commissioners of Sales Tax in the State.

d.   All the Dy. Commissioners of Sales Tax in the State.

e.   All the Asstt. Commissioners of Sales Tax in the State.

f.    All the Sales Tax Officers in the State.

2.     Copy forwarded with compliments for information to:

1. Officer on Special Duty, Finance Department, Mantralaya, Mumbai.
2. Under Secretary, Finance Department, Mantralaya, Mumbai.
3. The Accounts Officer, Sales Tax Revenue Audit, Mumbai and Nagpur.

3.  Copy to all Desks and Desk Officers in the office of the Commissioner of  Sales Tax Maharashtra State, Mumbai.

                                                                                                (S.D.BHANDARE)

                             Sr.Dy. Commissioner of Sales Tax,

                                                                    (Act & Rules ) Maharashtra State, Mumbai.