[Bihar Act 14, 2012]

The Bihar Value Added Tax (Amendment) Act, 2012

(Received the assent of the Governor on 16th August, 2012)

AN

ACT

TO AMEND THE BIHAR VALUE ADDED TAX ACT, 2005 (ACT 27 OF 2005)

Be it enacted by the Legislature of the State of Bihar in the sixty-third

year of the Republic of India as follows:-

1. Short Title, Extent and Commencement-

(1) This Act may be called the Bihar Value Added Tax (Amendment) Act, 2012.

(2) It shall extend to the whole of the State of Bihar.

(3) It shall come into force at once.

2. Amendment of Section-16 of the Bihar Value Added Tax Act, 2005 (Act 27 of 2005)-

(1) The first proviso to sub-section (1) of Section-16 of the Bihar Value Added Tax Act, 2005 (Act 27 of 2005) shall be substituted by the following, namely:-

"Provided that if the claim for input tax credit under clause (a) or clause (b) or clause (c) or clause (d) or clause (e) for any month exceeds the output tax for the same month, such excess shall be carried forward for adjustment against the output tax of subsequent months:

(2) After the first proviso to sub-section (1) of Section-16 of the Bihar Value Added Tax Act, 2005 (Act 27 of 2005), the following two new provisos shall be inserted, namely:-

"Provided further that no excess of input tax credit, as aforesaid, shall be carried forward for adjustment against the output tax beyond a period of two years from the end of the financial year in which such excess arose and any amount of input tax credit that remains unadjusted after the expiry of the said period shall, subject to the provisions of section-68, section-69, section-69A and section-71 of this Act, be refunded within three months of the filing of the return relating to such excess:

Provided also that no excess of input tax credit under the second proviso shall be carried forward for adjustment against the output tax of a month later than the last month of the financial year unless the claiming dealer furnishes such information and evidence as may be prescribed."

3. Amendment of Section-25 of the Bihar Value Added Tax Act, 2005 (Act 27 of 2005)-

(1) The full stop "." at the end of clause (e) of sub-section (1) of Section-25 of the Bihar Value Added Tax Act, 2005 (Act 27 of 2005) shall be substituted by a semi colon ";"

(2) After the semi colon so substituted, the following new clause (f) shall be inserted after clause (e) of sub-section (1) of Section-25 of the Bihar Value Added Tax Act, 2005 (Act 27 of 2005), namely:-

"(f) such information and evidence, as may be prescribed, in support of claims relating to input tax credit and other deductions claimed in the return has been furnished in such manner as may be prescribed."

(3) After sub-Section (1) of Section-25 the following new sub-Section (1A) shall be inserted, namely:-

"(1A) Notwithstanding anything contained in sub-Section (1), every such return relating to the last quarter of any financial year in respect of which the amount of input tax credit exceeds the amount of output tax shall, within three months of its filing, be scrutinized in such manner and within such time as may be prescribed."

By order of the Governor of Bihar,

VINOD KUMAR SINHA,

Secretary to Government.