{"act":{"id":"bihar-goods-services-tax-act-2017","short_title":"The Bihar Goods and Services Tax Act, 2017","long_title":null,"act_number":"12","act_year":2017,"enact_date":null,"enforcement_date":null,"ministry":null,"department":null,"jurisdiction":"Bihar","unit":"section","section_count":299,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"ocr","scan_url":"https://indiacode.ecourtsindia.com/scan/f974bd0f-6917-411d-b94d-973d638aa448.pdf","url":"https://indiacode.ecourtsindia.com/bihar-goods-services-tax-act-2017/"},"unit":"section","section":{"number":"68","heading":null,"text":"Substituted for the Words \"except those specified in paragraph 5 of the said Schedule\" by The Bihar Goods and Services Tax (Amendment) Act, 2023 (Bihar Act no. 12 of 2023) vide Notification No. 604 Dated 25th July, 2023. Compiled by Commercial Taxes Department, Bihar in Association with National Law Book Publications, Ghaziabad (4) A banking company or a financial institution including a non-banking financial company, engaged in supplying services by way of accepting deposits, extending loans or advances shall have the option to either comply with the provisions of sub-section (2), or avail of, every month, an amount equal to fifty per cent. of the eligible input tax credit on inputs, capital goods and input services in that month and the rest shall lapse: Provided that the option once exercised shall not be withdrawn during the remaining part of the financial year: Provided further that the restriction of fifty per cent. shall not apply to the tax paid on supplies made by one registered person to another registered person having the same Permanent Account Number. (5) Notwithstanding anything contained in sub-section (1) of section 16 and sub-section (1) of section 18, input tax credit shall not be available in respect of the following, namely :- [(a) motor vehicles for transportation of persons having approved seating capacity of not more than thirteen persons (including the driver), except when they are used for making the following taxable supplies, namely :- (A) further supply of such motor vehicles; or (B) transportation of passengers; or (C) imparting training on driving such motor vehicles; (aa) vessels and aircraft except when they are used- (i) for making the following taxable supplies, namely :- (A) further supply of such vessels or aircraft; or (B) transportation of passengers; or (C) imparting training on navigating such vessels; or (D) imparting training on flying such aircraft; (ii) for transportation of goods: (ab) services of general insurance, servicing, repair and maintenance in so far as they relate to motor vehicle, vessels or aircraft referred to in clause (a) or clause (aa): PROVIDED that the input tax credit in respect of such services shall be available- (i) where the motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa) are used for the purposes specified therein; (ii) where received by a taxable person engaged- (I) in the manufacture of such motor vehicles, vessels or aircraft; or","html":"

Substituted for the Words "except those specified in paragraph 5 of the said Schedule" by The Bihar Goods and Services Tax (Amendment) Act, 2023 (Bihar Act no. 12 of 2023) vide Notification No. 604 Dated 25th July, 2023. Compiled by Commercial Taxes Department, Bihar in Association with National Law Book Publications, Ghaziabad (4) A banking company or a financial institution including a non-banking financial company, engaged in supplying services by way of accepting deposits, extending loans or advances shall have the option to either comply with the provisions of sub-section (2), or avail of, every month, an amount equal to fifty per cent. of the eligible input tax credit on inputs, capital goods and input services in that month and the rest shall lapse: Provided that the option once exercised shall not be withdrawn during the remaining part of the financial year: Provided further that the restriction of fifty per cent. shall not apply to the tax paid on supplies made by one registered person to another registered person having the same Permanent Account Number. (5) Notwithstanding anything contained in sub-section (1) of section 16 and sub-section (1) of section 18, input tax credit shall not be available in respect of the following, namely :- [(a) motor vehicles for transportation of persons having approved seating capacity of not more than thirteen persons (including the driver), except when they are used for making the following taxable supplies, namely :- (A) further supply of such motor vehicles; or (B) transportation of passengers; or (C) imparting training on driving such motor vehicles; (aa) vessels and aircraft except when they are used- (i) for making the following taxable supplies, namely :- (A) further supply of such vessels or aircraft; or (B) transportation of passengers; or (C) imparting training on navigating such vessels; or (D) imparting training on flying such aircraft; (ii) for transportation of goods: (ab) services of general insurance, servicing, repair and maintenance in so far as they relate to motor vehicle, vessels or aircraft referred to in clause (a) or clause (aa): PROVIDED that the input tax credit in respect of such services shall be available- (i) where the motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa) are used for the purposes specified therein; (ii) where received by a taxable person engaged- (I) in the manufacture of such motor vehicles, vessels or aircraft; or

","words":397,"text_source":"ocr"},"classification":[],"instruments":[{"key":"31e350eb","kind":"notification","title":"S.O. 160, dated 27th March 2018","year":2018,"jurisdiction":"Bihar","relation":"made_under","act_basis":"inferred","url":"https://indiacode.ecourtsindia.com/rules/s-o-160-dated-27th-march-2018-31e350eb/"},{"key":"fdeceb2f","kind":"notification","title":"S.O. 142, dated 3rd February 2018","year":2018,"jurisdiction":"Bihar","relation":"made_under","act_basis":"inferred","url":"https://indiacode.ecourtsindia.com/rules/s-o-142-dated-3rd-february-2018-fdeceb2f/"},{"key":"bbb5394f","kind":"notification","title":"S.O. 109 dated 29th June 2017","year":2017,"jurisdiction":"Bihar","relation":"made_under","act_basis":"inferred","url":"https://indiacode.ecourtsindia.com/rules/s-o-109-dated-29th-june-2017-bbb5394f/"},{"key":"8178ff13","kind":"notification","title":"S.O. 115, dated 1st July 2021","year":2021,"jurisdiction":"Bihar","relation":"mentions","act_basis":"inferred","url":"https://indiacode.ecourtsindia.com/rules/s-o-115-dated-1st-july-2021-8178ff13/"},{"key":"5aacabcc","kind":"notification","title":"S.O. 129 Dated 9th June 2020","year":2020,"jurisdiction":"Bihar","relation":"mentions","act_basis":"inferred","url":"https://indiacode.ecourtsindia.com/rules/s-o-129-dated-9th-june-2020-5aacabcc/"}],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/bihar-goods-services-tax-act-2017/section/68/","note":null,"source_note":"Read from the Government's own scanned gazette with Azure Document Intelligence, then split into sections by their numbering. India Code publishes no text for this Act. The scan itself is mirrored into our own storage and served at /scan/f974bd0f-6917-411d-b94d-973d638aa448.pdf, so the reading here can be checked against the page it came from without depending on India Code's own copy staying where it is (it was at https://indiacode.gov.in/server/api/core/bitstreams/fff599ef-2dc0-4d2d-af5d-d0715d4aa86b/content).","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}