Section 42
Section 42 of the Bihar Goods and Services Tax Act, 2017. Inserted by The Bihar Goods and Services Tax (Amendment) Act, 2019 (Bihar Act no.
Inserted by The Bihar Goods and Services Tax (Amendment) Act, 2019 (Bihar Act no. 21 of 2019) vide Notification No. 1329 Dated 12th December, 2019. Compiled by Commercial Taxes Department, Bihar in Association with National Law Book Publications, Ghaziabad (3) The option availed of by a registered person under sub-section (1) [or sub-section (2A), as the case may be,]43 shall lapse with effect from the day on which his aggregate turnover during a financial year exceeds the limit specified under sub-section (1) [or sub-section (2A), as the case may be,]44.
(4) A taxable person to whom the provisions of subsection (1) [or, as the case may be, sub-section (2A)]45 apply shall not collect any tax from the recipient on supplies made by him nor shall he be entitled to any credit of input tax.
(5) If the proper officer has reasons to believe that a taxable person has paid tax under sub-section (1) [or sub-section (2A), as the case may be,]46 despite not being eligible, such person shall, in addition to any tax that may be payable by him under any other provisions of this Act, be liable to a penalty and the provisions of section 73 or section 74 [or section 74A]47 shall, mutatis mutandis, apply for determination of tax and penalty. [Explanation 1 .- For the purposes of computing aggregate turnover of a person for determining his eligibility to pay tax under this section, the expression "aggregate turnover" shall include the value of supplies made by such person to the 1st day of April of a financial year up to the date when he becomes liable for registration under this Act, but shall not include the value of exempt supply of services provided by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount.
Explanation 2 .- For the purposes of determining the tax payable by a person under this section, the expression "turnover in State or turnover in Union territory" shall not include the value of following supplies, namely :- (1) supplies to the first day of April of a financial year up to the date when such person becomes liable for registration under this Act; and (i) exempt supply of services provided by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount.'.]48 11. Power to grant exemption from tax .- (1) Where the Government is satisfied that it is necessary in the public interest so to do, it may, on the recommendations of the Council, by notification, exempt generally, either absolutely or subject to such conditions
Section 42, The Bihar Goods and Services Tax Act, 2017 (Act 12 of 2017).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Made under this section, and citing it
1 instrument states that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.
Another 2 instruments name this provision in its title or its text without being made under it.
Questions about Section 42
How do I find court cases under Section 42 of the Bihar Goods and Services Tax Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Bihar Goods and Services Tax Act 42, section 42 Bihar Goods and Services Tax Act, section 42 of the Bihar Goods and Services Tax Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 42 of the Bihar Goods and Services Tax Act, and has it changed?
Its own text turns on section 73, section 74, so none of them can safely be read on its own. 4 other provisions in this corpus refer back to it. The rules and notifications made under it are where it actually bites, and there is one: most recently S.O. 105 dated 29th June 2017 (2017).
When was the Bihar Goods and Services Tax Act enacted?
Bihar Goods and Services Tax Act was enacted in 2017 as Act 12 of 2017. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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). This page is not a substitute for legal advice.