Download Form of Tax Audit Report

Form TAR-I Form of Tax Audit Report under section 54 of the Bihar Value Added Tax Act, 2005 [See rule 33(5)(i)] Name and Style of Business ............................................................................................................................................................................................ Taxpayer Identification Number ............................................................................................................................................................................................ Full Address .............................................................................................................................................................................................................................. Part - 'A' I/We ................................................................................................................... having been appointed as auditor(s), under section 54 of the Bihar Value Added Tax Act, 2005, (hereinafter referred to as 'the Act') of ............................................................................................................. ..................................................................................................................................................................... (mention name and style of the dealer whose accounts are being audited), bearing Taxpayer Identification No. ................................................................... , have examined the books of accounts prescribed under sections 52 and 53 of the Act read with Rule 33 of the Bihar Value Added Tax Rules, 2005 (hereinafter referred to as 'the Rules') and other relevant records by the dealer and report, subject to my/ our comments under the heading "Auditor's Observations and Conclusions" contained in the annexure to this report, that - (a) I/We have/have not obtained all the information and explanations which to the best of my/our knowledge and belief were necessary for the purpose of the audit; (b) proper records, documents and registers as required by sections 52 and 53 of the Act read with Rule 33 of the Rules have/have not been maintained by the dealer; (c) the said books and records give/do not give the information required by the Act in the manner specified; (d) the *Balance-Sheet in Form TAR-III/ the *Income Statement in Form TAR-II/ the detailed *Flow of Goods in Form TAR-IV referred to in this report are/are not in agreement with the books of accounts; (e) in my/our opinion, the books and records of the dealer have/have not been properly maintained; (f) in my/our opinion and to the best of our information and according to the explanations given to us, the said Balance Sheet and the Manufacturing,Trading, and Profit & Loss Account give a true and fair view: (i) insofar as it relates to the Balance Sheet, of the state of affairs of the dealer as at the end of the financial year; (ii) insofar as it relates to the Income Statement, of the working results of the dealer for the financial year ended on that date; and (iii) insofar as it relates to the detailed flow of goods, of the inventory, purchases/receipts, sales/ dispatches and other claims appearing therein for the financial year ended on that date. * Strike out whichever is not applicable. Part-'B' In pursuance of my/our report at Part-'A', I/we further report, subject to my/our comments under the heading "Auditor's Observations and Conclusions" contained in the annexure to this report, that - (a) the claims preferred in respect of input tax credit are/are not correct and have/have not been computed in the manner prescribed under rules 12 to 16 of the Rules read with sections 16 and 17 of the Act; (b) physical verification has been/has not been conducted by the dealer/management at reasonable intervals in respect of raw materials, stores, spare parts and finished goods; (c) the procedures of physical verification of stocks followed by the dealer/management are/are not reasonable and adequate in relation to the size and nature of the business; (d) material discrepancies were/were not noticed on physical verification of stocks as compared to book records, and the discrepancies, if any, noticed have/have not been properly dealt with in the books of the accounts; (e) I/we, on the basis of examinations of the stocks, is/are satisfied that such valuation is fair and proper and in accordance with the generally accepted accounting principles. Part-'C' ( Details of Statutory Forms issued to/printed by the Dealer ) 1. Declaration for Transportation of Goods: Permits for .. mber of Forms recdealer dumber ofeived/nted by thering year Details of Forms issued by the dealer during the year Number ofForms with thedealer as on31st-Mar- NuFordea1st-Apr­ms with theler as on Nuprithe Number Value Declaration for purchase/ receipts from within the State ** Declaration for sales/ transfers within the State ** Declaration for purchase/ receipts from outside the State ** Declaration for sales/transfers outside the State ** Declaration for Exports ** Need not be furnished by dealers with turnover exceeding Rs. 10 Crores during the year. 2. Central Forms: Forms .. Number ofForms in hand ason 1-4- Number ofForms receivedby the dealerduring the year Details of Forms issued by the dealer during the year * Value of purchases/receipts effectedfrom outside thestate by the dealerduring the year Number ofForms with thedealer as on31-3- Number Value ** Indicate separately the number and value of forms issued in respect of different financial years. Part-'D' ( Details of Statutory Forms received by the dealer from other dealers ) Description of Forms Number of Forms Received Value of Purchase/Receipts or Sales/ Dispatch, as the case may be Declarations for Transportation of Goods Central C/D Forms* Central E1/E2 Forms* Central F Forms* Central H Forms* ** Indicate separately the number and value of forms issued in respect of different financial years. Part-'E' ( Details of Stocks, Receipts and Turnover ) Opening Stock Opening Stock Closing Stock Quantity Value Quantity Value 1. Goods liable to Tax @ 1% 2. Goods liable to Tax @ 4% 3. Goods liable to Tax @ 12.5% 4. Goods mentioned in Schedule IV 5. Goods mentioned in Schedule I 6. Total (1 through 5) From within Bihar From outside Bihar Purchases/Receipts* Purchases Stock Transfer Purchases Stock Transfer Qty Value Qty Value Qty Value Qty Value P1 Goods liable to Tax @ 1% P2 Goods liable to Tax @ 4% P3 Goods liable to Tax @ 12.5% P4 Goods mentioned in Schedule IV P5 Goods mentioned in Schedule I P6 Total (P1 through P5) * To include goods received on stock transfer basis. Production** Quantity Licensed Capacity Installed Capacity Annual Production Value PR1 Goods liable to Tax @ 1% PR2 Goods liable to Tax @ 4% PR3 Goods liable to Tax @ 12.5% PR4 Goods mentioned in Schedule IV PR5 Goods mentioned in Schedule I PR6 Total (PR1 through PR5) ** To be filled up only by dealers who are manufacturers. To within Bihar To outside Bihar Sales/Despatches*** Purchases Stock Transfer Purchases Stock Transfer Qty Value Qty Value Qty Value Qty Value S1 Goods liable to Tax @ 1% S2 Goods liable to Tax @ 4% S3 Goods liable to Tax @ 12.5% S4 Goods mentioned in Schedule IV S5 Goods mentioned in Schedule I S6 Total (S1 through S5) *** To include goods despatched on stock-transfer basis. Part-'E' ( Output Tax, Input Tax Credit and VAT payable ) Value Tax A Output Tax including excess of reverse credit, if any, for the year B Value of K (input-output ratio) for immediately preceding year C Input Tax (including purchase tax) paid to purchaser during the year Reverse Credit on account of: (a) Intra-State Stock Transfer (b) Inter-State Stock Transfer (c) Goods returned within 6 months (d) Transfer of the right to use goods, gifts or self-consumption (e) Goods specified in Schedule IV (f) Sale of Goods specified in Schedule I (g) Value of goods stolen, lost or destroyed; if any D Total Reverse Credit = (a)+(b)+(c)+(d)+(e)+(f)+(g) E Input Tax Credit for the year = [C - D] F Input Tax Credit on account of opening stock under rule 13 G Input Tax Credit on account of capital inputs under rule 12 H Input Tax Credit brought forward I Total Input Tax Credit = [E+F+G+H] J VAT Payable for the year [A-I], if A is greater than I K Input Tax Credit carried forward [I-A], if I is greater than A L Value of K (revised input-output ratio) for the year M Revised Reverse Credit N Balance Payable, if any, as per rule 16(2)(d)(i) O Balance Excess, if any, as per rule 16(2)(d)(ii) P Refund, if any, on account of export as per rule 16(2)(e) Part-'G' ( Details of Payments Made and Received ) 1. Payments made during the year in respect of goods purchased: (a) Payments made through Cheque/Drafts (b) Payments made in cash* (c) Total Payments made * Furnish separately details of such suppliers to whom payments in excess of Rs. 25,000/- have been made in cash during the year. 2. Payments received during the year from dealers in respect of goods sold: (a) Payments received through Cheque/Drafts (b) Payments received in cash* (c) Total Payments received * Furnish separately details of such dealers from whom payments in excess of Rs. 25,000/- have been received in cash during the year. Place Date ................................................... ................................................... Signature of Authorised Person(s) Official Seal .........................................................................