Download Maharashtra VAT FORM – 704 Audit report under section 61 of the Maharashtra Value Added Tax Act, 2002,
As per Maharashtra VAT Rule 65
Rule 61. Accounts to be audited in certain cases:-
(1) Every dealer liable to pay tax shall,-
(a) if his turnover of sales or, as the case may be, of purchases 1[exceeds rupees sixty lakh] in any year, or
2[(b) a dealer or person who holds licence in,—
(i) Form P.L.L. under the Maharashtra Distillation of Spirit and Manufacture of Potable Liquor Rules, 1966, or
(ii) Form B-RL under the Maharashtra Manufacture of Beer and Wine Rules, 1966, or
(iii) Form E under the Special Permits and Licence Rules, 1952, or
(iv) Forms FL-I, FL-II, FL-III, FL-IV under the Bombay Foreign Liquor Rules, 1953, or
(v) Forms CL-I, CL-II, CL-III, CL/FL/TOD-III under the Maharashtra Country Liquor Rules, 1973;]
3[(c) if he holds an Entitlement Certificate in respect of any Package Scheme of Incentives, granted under this Act or, as the case may be, under the Bombay Sales Tax Act, 1959.]
get his accounts in respect of such year audited by an Accountant within the prescribed period from the end of that year and furnish within that period the 4[complete report of such audit] in the prescribed form duly signed and verified by such accountant and setting forth such particulars and certificates as may be prescribed.
5[Explanation-I.- For the purposes of this section, “Accountant” means a Chartered Accountant within the meaning of the Chartered 6[Accountants Act, 1949 or a Cost Accountant within the meaning of the Cost and Works Accountants Act, 1959 (23 of 1959)].
Explanation-II.- For the purposes of this section, an audit report shall be deemed to be the “complete audit report” only if all the items, certification, tables, schedules and annexures are filled appropriately and are arithmetically self-consistent.]
(2) If any dealer liable to get his accounts audited under sub-section (1) fails to furnish a copy of such report within the time as aforesaid, the Commissioner may, after giving the dealer a reasonable opportunity of’ being heard, impose on him, in addition to any tax payable, a sum by way of penalty equal to one tenth per cent. of the total sales 7[* * *]
8[Provided that, if the dealer fails to furnish a copy of such report within the period prescribed under sub-section (2), but files it within one month of the end of the said period, and the dealer proves to the satisfaction of the Commissioner that
the delay was on account of factors beyond his control, then no penalty under this sub-section shall be imposed on him.]
[(2A) Where a dealer liable to file audit report under this section has knowingly furnished the audit report which is not complete, then the Commissioner may, after giving a reasonable opportunity of being heard, impose on him, in addition to any tax payable or any other penalty leviable under this section or any other section, a sum by way of penalty equal to one tenth per cent., of the total sales.]
[(3) Nothing in sub-sections (1) and (2) shall apply to Departments of the Union Government, any Department of any State Government, local authorities, the Railway Administration as defined under the Indian Railways Act, 1989 (24 of 1989), the Konkan Railway Corporation Limited and the Maharashtra State Road Transport Corporation constituted under the Road Transport Corporation Act, 1950 (64 of 1950).
