Insertion of a new section 15B in the Bihar Value Added Tax Act, 2005 (Act 27 of

2005) herein after referred to as Act 27, 2005-—After section 15A of the Bihar Value Added Tax Act, 2005 (Act 27 of 2005), the following new section 15B shall be inserted, namely— “15B. Payment of a fixed amount or payment at a fixed rate in lieu of the tax

payable under the Act- (1) Notwithstanding anything to the contrary contained in the Act

but subject to such Rules as may be made in this behalf, the State Government may, in respect of such goods or class or description of goods and subject to such conditions and restrictions as may be specified in a notification issued in this behalf, permit any class or description of dealers to pay, in lieu of the tax payable by him in respect of any transaction, either a fixed amount, not exceeding fifty thousand rupees, or an amount calculated at such rate, not exceeding five percent of the value of the transaction, as may be specified in the notification: Provided that the State Government may specify different amounts in respect of different ranges of values of the transaction.

1. (2) It shall be lawful for the State Government to specify, in the notification, the time at which and the manner in which the amount payable under sub-section (1) shall be paid.
2. (3) Every dealer to whom the provisions of sub-section (1) apply shall—
   • (a) not charge any tax in excess of the amount specified in the notification issued under sub-section (1); and
   • (b) not be entitled to issue any tax invoice in respect of any sale made by him.” PART-2 AMENDMENT IN THE BIHAR TAX ON PROFESSIONS, TRADES, CALLINGS AND EMPLOYMENTS ACT, 2011