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Section 13: Amendment of section 50

Bihar Goods and Services Tax (Amendment) Ordinance, 2022State Ordinance of Bihar · No. 12 of 2017

In section 50 of the principal Act, for sub-section

(3), the following sub-section shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2017, namely:–– “(3) Where the input tax credit has been wrongly availed and utilised, the registered person shall pay interest on such input tax credit wrongly availed and utilised, at such rate not exceeding twenty-four per cent. as may be notified by the Government, on the recommendations of the Council, and the interest shall be calculated, in such manner as may be prescribed.”.

Where this provision sits

ActBihar Goods and Services Tax (Amendment) Ordinance, 2022
Section13
Marginal noteAmendment of section 50
JurisdictionState of Bihar
StatusIn force as published by the source

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