Under certification part the following changes have been made :
a) In table-1, serial no. 2(B)(b) the selection of schedules and annexures as applicable to the dealer, annexure J-3 and j-4 have been removed.
b) In table-1,serial no.2(B) clause (c) & (d) are clubbed as clause (c).
c) Clause (d) and clause 7 below table 5 are newly introduced as “on the basis of an information available on the website of department the period under audit involves no issue in case of this dealer in which a decision against the State Government or the Commissioner was delivered by the Tribunal and the Reference and/or Appeal therein is pending before appropriate forum except detailed in table 7 herein below, if applicable.
b) In Serial no. 3 clause-O, for Balance Taxable Purchases eligible for set-off, instead of word “Balance- within the State Purchases of Taxable Goods from registered dealers eligible for Set-off” the words “from registered dealer” are removed. The said changes have also been made in Serial No – 5 clause (a) –Table for Computation of set-off claimed for the period under audit.
Similarly, the abovementioned changes have also been made in Schedule – III, IV and V.
This changes was required to give effect to allow set-off on Purchase Tax payable/paid. But according to me may be inadvertently, Table is not provided for calculation of Tax rate wise breakup of Purchases liable for Purchase tax as well as Tax rate wise breakup of Purchases eligible for set-off liable for Purchase Tax. Due to this mismatch of figure will occur between Serial No. 3 clause - O and Serial No. 4.
c) Under Serial No. 6B clause - (a1) has been newly inserted to provide for Purchase Tax payable.
V] Annexure G: Additional rows are inserted upto 5000 in place of 1000.
VI] Annexure I: Additional rows are inserted upto 5000 in place of 1000.
VII] Annexure J1 & J2: Additional rows are inserted upto 5000 in place of 1000.
VIII] Annexure J3 & J4: Both the annexure have been removed in new form 704. According to me it was not required because it was convenient for both the Sales Tax Department and the Tax practitioner to know about the details of debit note & credit note pertaining to goods return, rate difference etc and to cross verify GTO of sales and purchases with respective schedules.
Friends, in this article I have tried to incorporate and analyze the changes in new Form 704 Version 2.0.0. Please pardon me if any of the changes have not been incorporated herein above.