The Government of Bihar on November 23, 2023, issued the Bihar Goods and Services Tax (Fourth Amendment) Rules, 2023, to further amend the Bihar Goods and Services Tax Rules, 2017.
The following amendments have been stated:
• It states that Rule 28, which states “Value of supply of goods or services or both between distinct or related persons, other than through an agent” has been renumbered as sub-rule (1) and after the sub-rule, as so renumbered, the following sub-rule shall be inserted, namely:
“(2) Notwithstanding anything contained in sub-rule (1), the value of supply of services by a supplier to a recipient who is a related person, by way of providing a corporate guarantee to any banking company or financial institution on behalf of the said recipient, shall be deemed to be 1 percent of the amount of such guarantee offered, or the actual consideration, whichever is higher.”
• In rule 142, which states “Notice and order for the demand of amounts payable under the Act” in sub-rule (3), for the words “proper officer shall issue an order”, the words “proper officer shall issue an intimation” has been substituted.
• In rule 159, which states “Provisional attachment of property” in sub-rule (2), after the words “Commissioner to that effect”, the words “or on expiry of a period of one year from the date of issuance of the order under sub-rule (1), whichever is earlier,” has been inserted.
This notification shall be deemed to have come into force from October 26, 2023.
[Notification No S.O. 358]
