In exercise of the powers conferred under Sub-Section (1A) of Section 15 of the Bihar Value Added Tax Act, 2005 (Act 27 of 2005), the Governor of Bihar is pleased to specify that tax payable by the dealers, who opted to pay a fixed amount in lieu of the tax payable by the dealer under the Act shall be Rs. ten thousand for a financial year:

Provided that the amount payable under this notification in respect of the financial year commencing the 1st April 2010 shall be reduced by the amount, if any, already paid by the dealer under departmental notification number S.O. 79, dated 13th September 2007 and only the amount remaining, if any, after such reduction shall be payable by the dealer under this notification in respect of the financial year commencing the 1st April 2010:

Provided further that if, before the coming into effect of this notification, the amount paid by a dealer under departmental notification number S.O. 79, dated 13th September 2007 exceeds ten thousands rupees, such excess shall not be refunded to the dealer.

2. Departmental notification number S.O. 79, dated 13th September 2007 is hereby cancelled.

3. The fixed amount payable under this notification shall, at the option of the dealer, be payable-

(a) in two equal installments by the 30th of September and the 31st of March of the concerned financial year; or

(b) in one installment by the 30th of September of the concerned financial year.

4(a) The return furnished by a dealer to whom the provisions of sub-Section (1A) of Section 15 apply, shall not be subjected to scrutiny under the provisions of Section 25 of the Act.

(b) A delar to whom the provisions of sub-Section (1A) of Section 15 apply shall not be selected for audit under the provisions of Section 26 of the Act.

5. This notification shall come into force with effect from the date of issue.

By order of the Governor of Bihar,

J. R. K. RAO,

Commissioner-cum-Principal Secretary.