CA Deepak P. Agrawal's Expert Profile

Queries Replied : 110

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Hi, I'm a practising C.A. at Akola (M.S.) My area of specialisation being MVAT Audit.

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CA Abhijeet N. Bobade says : Discrepancies found in the Audit report submitted
Hi!! The solution to yourproblem is very simple. Section J 1 is ment to cover transactions of B2B i.e. Business to Business in nature and not B2C i.e. Business to direct consumers. So you need not give such details. In this situation you have to show total of such sales and VAT collected in the last line of the section. Further, for this year as per the guidence cell meeting held with the commisoner, it is not mandatory to fill Section J 1 completely. You can give details if you have. But it is not mandatory as there is no such provision in the act which says you have to collect TIN of coustomers. Hope you find the answer to order. Regards *********************** Dear Sir, I had submitted Mvat Audit report along with Annex J1 & J2 containing TIN of coustomers. But for Non TIN holders coustomers (B2C) i have shown total of such sales and VAT collected in the last line of the section.But Office of Dy. Commissioner of Sales Tax issued me following notice. ****************************** Office of Dy. Commissioner of Sales Tax,� e704 Cell, B 10, 5th Floor , Old Building,Vikrikar Bahavan, Mazgaon,Mumbai -10. ( 23760522 / 0524 /0529 /0527 23760525/ 0531 /0532 /0538 Subject : Discrepancies found in the Audit report/s audited by you under section 61 of MVAT Act , 2002 for f.y. 2008 -09 .(Annexure J2) Gentleman /Madam, Upon scrutiny of the audit report/s audited by you under section 61 of the MVAT Act, 2002 for the period 2008 09 the following discrepancies have been noticed. 1. Annexure J-1 of the Audit Report in form 704 audited by you does not disclose the sales effected by the dealer under audit to the dealers, as shown in the list-1 attached herewith. These dealers have claimed the purchases from your auditee (either in annexure J2 of the report in form 704 filed by them or Annexure A of Application in Form E-501 filed by these dealers). 2. Annexure J-2 of the Audit Report does not disclose the purchases made by the dealer under audit from the dealers, as shown in the list-2 attached herewith .These dealers have shown sales to auditee as per Annexure J-1 of Audit Reports filed by these dealers. The list/s of the same are attached herewith for your information and convenience in compliance. If you agree with the discrepancies, you are requested to ask your auditee to upload the Annexure J-1/J-2 as the case may on the website of the Department through the linkhttp://www.mahavat.gov.in/Mahavat/Controller?option=FORMS in respect of the discrepancies pointed out as above in the attached list within a month of receipt of this communication. Consequently thereto, you may also ask your auditee to file return or revised return, as the case may be, if found necessary and also pay the taxes becoming due as per the said returns along with interest U/S 30(2) and U/S 30(4) of the MVAT Act.2002. If you are agree with the TIN of vendors but do not agree with the amounts, then you are requested to ask your auditee to upload correct data which you agreed on. If you do not agree with the same, you are requested to ask the auditee to furnish clarification to Joint Commissioner of Sales Tax office of Your Location, in respect of the aforesaid discrepancies, immediately. Yours faithfully, Dy Commissioner of Sales Tax E704 Cell, Mumbai. ************* Please guide me on the above matter. Thanks & Regards, CA Abhijeet N. Bobade Pune Email ID: abhijeetbobade@gmail.com

Shwetha Mohan Kamath says :
Sir, Can u please help me with references of the reply which you have given to me in relation to the question of whether input tax credit taken needs to be reversed in case of sales return in respect of sales made before 6 months of the return?

Ronak Choudhary says : vat credit on commercial vehicles..
sir..I have taken a commercial vehicle (tempo) in dadra and nagar haveli. I am into business of polyester yarn. Can I get a set off for the vat paid on the tempo? please help..

Gaurav says : Commission to be Included in Turnover
Hi Expert, Whether Commission should be included in sale turonver for the purpose of registartion of dealer (5,00,000-Sale turover)under MVAT ACT? Brief Background:Assesse a distributor (Say B) is purchasing goods from registered dealer (Say A).Assesse (B) is having another distributor under him (Say C). Now as per agreement between B and A, A will pay commission amount (differential profit margin of B and C) to B for any purchase made by C from A. As per my notion Commission should not be included nor turnover of C in B's turonver? Please advise