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[Cites 0, Cited by 0] [Section 12(5)] [Section 12] [Entire Act]

State of Bihar - Subsection

Section 12(5)(b) in Bihar Value Added Tax Rules, 2005

(b)No input tax credit shall be available to a registered dealer for tax paid or payable at the time of purchase of goods if such goods are not sold because of any theft, loss or destruction for any reason, including natural calamity, and if a dealer has already taken any input tax credit against purchase of such goods the dealer shall incur a reverse tax credit at the end of the month in which such goods are stolen, lost or destroyed.