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Taxation Bihar Ministry of Finance Bihar Goods and Services Tax Act, 2017

Bihar Goods and Services Tax (Second Amendment) Ordinance, 2024

28-Oct-2024 | Bihar Ordinance No. 01, 2024

Government of Bihar has introduced the Bihar Goods and Services Tax (Second Amendment) Ordinance, 2024. Key changes under this ordinance include:

a. Insertion of Section 11A -This section grants the power not to recover GST that was not levied or was short-levied due to general practice, aiming to address ambiguities in tax practices.

b. Insertion of Section 74A -Establishes guidelines for determining tax not paid, short paid, erroneously refunded, or input tax credit wrongly availed or utilized for any reason applicable from Financial Year 2024-25 onward.

c. Insertion of Section 128A -Provides a waiver of interest or penalty (or both) on demands raised under section 73 for specific tax periods, helping to ease the compliance burden on businesses.

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