Section 16(3) in The Bihar Value Added Tax Act, 2005
(3)No input tax credit under sub-section (1) shall be claimed or be allowed to a registered dealer-(a)in respect of goods specified in Schedule IV or such other goods as may be prescribed; or(b)in respect of inputs purchased by him from another registered dealer or manufactured by him and the right wherein to use is transferred to another dealer; or(c)in respect of inputs purchased from a registered dealer permitted to pay tax under the provisions of section 15; or(d)in respect of inputs consumed for the manufacture of goods specified in Schedule I; or(e)in respect of goods used for self consumption or as gift; or(f)[ in respect of inputs, to be specified by the State Government in a notification, which have been sold at a price lower than their purchase price in accordance with a price control mechanism effected either by the Central Government or the State Government.] [Inserted by Act No. 8 of 2007.]
