Section 15(2) in Bihar Value Added Tax Rules, 2005
(2)A manufacturing dealer shall first compute the input-output ratio by applying the following Formula:K = (OB + PR - CB) ÷ V; where,K = The input-output ratio for the immediately preceding year;OB = The value of opening stock of all goods on the first day of the immediately preceding year;PR = The value of all goods purchased during the immediately preceding year;CB = The value of closing stock of all goods on the last day of the immediately preceding year; andV = The aggregate of the sale of goods sold within the state, sales in the course of inter-state trade and commerce, stock transfers, exports and sales of goods specified in Schedule I of the Act during the immediately preceding year.Provided that the value of K shall be taken at 0.85 in the case of a dealer commencing business at any time after the appointed date.
