MVAT Audit due date extended

1. The Hon’ble High Court has dismissed the Writ petition No. 2000 of 2007 and allied petitions regarding Form 704. The date for filing of Form 704 was extended by the High Court to 30th June 2008. Accordingly, a trade circular cited at reference 13 was issued and the date for filing of Form 704 in respect of the year 2005-06 and 2006-07 was extended to 30th June 2008.

2. In view of various representations received from Trade and Associations the date for filing of audit report in Form 704 in respect of the year 2005-06 and 2006-07 is extended to 31st July 2008. It may be noted that under no circumstances the date for filing the audit report will be further extended.

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 31st August 2008. No legal action will be taken against the dealers who abide by the above mentioned revised deadlines.