The Bihar Goods and Services Tax (Amendment) Act, 2021
The Bihar Goods and Services Tax (Amendment) Act, 2021
This Act amends the tax regulations for registered businesses and taxpaying entities operating in Bihar, India. It regulates goods and services tax compliance, input tax credit eligibility, annual return filings, and tax enforcement procedures. The legislation matters because it reduces paperwork by replacing mandatory audits with self-certified reconciliation statements, making compliance easier for businesses. However, it also strengthens tax administration and discourages tax evasion by introducing stiffer penalties on transit violations, permitting provisional asset attachments during revenue investigations, and clarifying interest calculations on late payments. Ultimately, these legislative measures protect government tax revenue while significantly streamlining annual taxpayer administration.
- 0. Preamble
- 1. Short title and commencement.
- 2. Amendment of section 7.
- 3. Amendment of section 16.
- 4. Amendment of section 35.
- 5. Substitution of new section for section 44.
- 6. Amendment of section 50.
- 7. Amendment of section 74.
- 8. Amendment of section 75.
- 9. Amendment of section 83.
- 10. Amendment of section 107.
- 11. Amendment of section 129.
- 12. Amendment of section 130.
- 13. Substitution of new section for section 151.
- 14. Amendment of section 152.
- 15. Amendment to Schedule II.
- 16. Retrospective effect to the Commercial Taxes Department notification number
PDF: pending for this language.