Amendment in bihar finance act , entry tax and vat (2014)

PRESENTS
Amendments in Bihar
Finance Act, Entry Tax and Vat
Wednesday, 12 March 2014 For information purpose only.

The Bihar Finance (Amendment) Rules, 2014
(Notification No. M-4-48/2012(Part-I)-1308/F
Dated Feb,7 2014)

In exercise of the powers conferred under sub-sections
(1) and (3) of Section 80 of the Bihar Finance Act, 1981
the State Government of Bihar makes the following
Rules to amend the Bihar Finance Rules –
1. Short name, extent and commencement. –
(1) These rules may be called "The Bihar Finance
(Amendment) Rules, 2014.

(2) It shall extend to the whole of the state of Bihar.
(3) It shall come in to force at once.
2. Amendment in Rule 131B of the Bihar Finance Rules – The
existing provision of Rule 131 B of the Bihar Finance Rules
shall be numbered as sub rule (i) and there after a following
new sub rule (ii) shall be added:-

"(ii) If works are taken from any agency on Turn Key Basis,
then it shall be mandatory for the said agency to
purchase at least 15% of the raw materials of essential
quantity for the works (earmarked materials/raw materials
by the State Government/State Purchase
Organisation/Industries Department) from the industrial
units situated in the State. Accordingly, conditions will be
laid down in the tender."

3. Addition of a proviso to subrule (xii) of Rule 131R of the Bihar
Finance Rules – A following proviso shall be added after
subrule (xii) of Rule 131R of the said Rules :-

"Provided that if during the bids, industrial unit/units registered
in the state are also participating, Purchase Department shall
accord preference to such registered units in the state, who
have quoted rates more than 15% from the lowest responsive
bidder, on finding them responsive and on the condition of the
agreement, a maximum of 15% of total purchase order can be
issued on the rates quoted by the lowest responsive bidder. No
relaxation shall be given in terms of quality, specification and
the time limit for such supply."

Now there is no entry tax in
Bihar on “Paddy, Wheat, Rice,”
(Notification No. S.O. 6 Dated Jan, 22 2014)

In exercise of powers conferred by Section 3A of the Bihar Tax
on Entry of Goods into Local Areas for Consumption, Use or
Sale therein Act, 1993 (Bihar Act 16 of 1993), the Governor of
Bihar is pleased to make the following amendment to the
Schedule, as amended from time to time, appended to the
said Act, namely-

Amendment
1. The words and commas “Paddy, Wheat, Rice,” shall be
deleted from the present entries of Serial Number 25 of the
Schedule, as amended from time to time, appended to the
Bihar Tax on Entry of Goods into Local Areas for
Consumption, Use or Sale therein Act, 1993 (Bihar Act 16 of
1993).
2. This notification shall come into force with effect from the date
of its issue.

“Leaf Plates and cups” and its corresponding entries
of Schedule III of Part 1 of the Bihar Value Added Tax
Act, 2005 (Act 27 of 2005) shall be deleted
(Notification No.S.O 10 Dated Jan, 20 2014)

In exercise of powers conferred by sub-section (2) of section
14 of the Bihar Value Added Tax Act, 2005 (Act 27 of 2005),
the Governor of Bihar is pleased to make the following
amendments to Schedule III appended to the said Act, namely

Amendments
1. Serial number 73 (Leaf Plates and cups) and its
corresponding entries of Schedule III of Part 1 of the Bihar
Value Added Tax Act, 2005 (Act 27 of 2005) shall be deleted.
2. This notification shall come into force with effect from the date
of its issue.

Ask from our Experts
Email : contact@taxandlawdirectory.com
Call us on : 099 99 882345
Write Us
We love to hear from you. Ask any thing we will get back soon !!

Amendment in bihar finance act , entry tax and vat (2014)

Recommended

Recommended

More Related Content

More from TLDC INDIA

More from TLDC INDIA (20)

Recently uploaded

Recently uploaded (20)

Amendment in bihar finance act , entry tax and vat (2014)