Section 18(1) in Bihar Goods and Services Tax Act, 2017
(1)Subject to such conditions and restrictions as may be prescribed-(a)a person who has applied for registration under this Act within thirty days from the date on which he becomes liable to registration and has been granted such registration shall be entitled to take credit of input tax in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the day immediately preceding the date from which he becomes liable to pay tax under the provisions of this Act;(b)a person who takes registration under sub-section (3) of section 25 shall be entitled to take credit of input tax in respect of inputs held in stock and inputs contained in semi-finished or finished good sheldin stock on the day immediately preceding the date of grant of registration;(c)where any registered person ceases to pay tax under section 10, he shall be entitled to take credit of input tax in respect of inputs held in stock, inputs contained in semi-finished or finished goods held in stock and on capital goods on the day immediately preceding the date from which he becomes liable to pay tax under section 9:Provided that the credit on capital goods shall be reduced by such percentage points as may be prescribed;(d)where an exempt supply of goods or services or both by a registered person becomes a taxable supply, such person shall be entitled to take credit of input tax in respect of input sheldin stock and inputs contained in semi finished or finished goods held in stock relatable to such exempt supply and on capital goods exclusively used for such exempt supply on the day immediately preceding the date from which such supply becomes taxable:Provided that the credit on capital goods shall be reduced by such percentage points as may be prescribed.
