January 2008 - STR — Important Circulars

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"The main object of our Association is to educate the public in general and the members in particulars on Sales Tax and Allied Laws in the State of Maharashtra, India".

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Sales Tax Review

January 2008

TRADE CIRCULAR.

No.VAT/MMB-1006/152/Adm-3

(Trade Circular No. 2 T of 2008)

Mumbai, Date : 29.01.2008

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 dated. 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.

8) Trade circular No. 58T of 2007, Mumbai dated 23.8.2007.

9) Maharashtra Act No. XXV of 2007 dated 6.8.2007.

10) Trade circular No. 66T of 2007, Mumbai dated 31.10.2007.

11) Trade circular No. 71T of 2007, Mumbai dated 29.12.2007.

Gentlemen/Sir/Madam,

The Hon’ble High Court has fixed the hearing of Writ petition No. 3203 of 2006 regarding Form 704 in the month of February 2008. 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 31^st March 2008.

2. Date of filing of the Audit Report in Form 704 for the year 2006-07 is 31^st January 2008. This date is also extended upto 31^st March 2008.

3. 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 April 2008. No legal action will be taken against the dealers who abide by the above mentioned revised deadlines.

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 From 1.4.2006 these numbers have been replaced by TIN.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:

T.I.N.

2

7

1

2

3

4

5

6

7

8

9

V

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. For the present, audit reports in Form 704 will be accepted in hard copy even if the soft copy is not furnished.

8.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.

9. 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.