Section 16(1A) in The Bihar Value Added Tax Act, 2005
(1A)[ Notwithstanding any thing contained in the first proviso to sub-section (1), the dealer may, at his option, choose to carry forward the unadjusted amount of input tax credit in respect of a financial year for adjustment against the output tax of subsequent months of the following financial year:Provided that, upon exercise of the option as aforesaid by the dealer, no refund of any unadjusted input tax credit shall be made during the course of such financial year.Explanation. - If a dealer carries forward the unadjusted input tax credit in respect of the financial year for adjustment against the output tax of the subsequent month of the following financial year, he shall be deemed, for the purpose of this sub-section, to have exercised the option.] [Inserted by Act No. 8 of 2007.]
