The State Government of Bihar vide its notification dated 12th May 2020 has published the Bihar Taxation Law (Amendment) Ordinance, 2020 which amended the rate of tax payable under the Bihar Value Added Tax Act, 2005.
Every dealer who is registered under the Bihar Finance Act, 1981, shall be liable, on to pay tax under this Act on sale or purchase, made by him. The rate of tax shall be calculated under section 14 on the basis of-
- The sale price of the goods at such rate not exceeding 50%;
- The weight or volume of the goods at such rate not exceeding 50 rupees per litre or Any combination of the two clauses as the State Government may, by notification, specify.
Click here to read the Notification.
