The Government of Bihar on March 14, 2024, notified the Bihar Settlement of Taxation Disputes Act, 2024.
The following has been stated-
•It shall extend to the whole of the State of Bihar.
•Save as otherwise provided, the provisions of this Act shall come into force on such date as the Commissioner of State Tax, by notification published in the official Gazette, appoint and shall remain in force for a period of six months from the said date.
•Subject to other provisions of this Act, a dispute pending under the law may, on an application being made in this behalf by a party, be settled upon payment of the settlement amount as specified in column 3 of the Table attached to the document.
•Provided that the State Government may, by a notification published in the official Gazette in this behalf, extend the said period of six months by such further period, not exceeding six months, as may be specified in the said notification.
•Any party opting to settle a dispute shall furnish to the prescribed authority, an appliciation in such form and manner and within such time as may be prescribed.
•No application shall be considered by the prescribed authority unless the application conforms to the requirements of Section 4 and the rules made thereunder.
•Every application furnished under section 4 shall be proceeded within such manner and within such time as may be prescribed.
[Bihar Act 04, 2024]
