BIHAR VAT
Amendment in Bihar Value Added Tax Rules 2005
Sub-rule (2)(b) of Rule 14 has been substituted. Now, the value of stock transfers outside the State shall be arrived at after applying the following Formula-
R2 = [B x I / P]
{Earlier formula was: R2 = [4 x B ÷ 100]}
Where,
R2 = reverse credit on account of stock transfers outside the state
B = total value of stock transfers outside the state
I = input tax paid by the dealer on purchase of inputs, other than those specified in Schedule I, during the month
P = value of goods, other than goods specified in Schedule I, purchased during the month from within the State
Rule 17 (Refunds) has been omitted.
[Notification No. S.O. 12 Dated 13th January, 2016]