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of <h1>Bihar GST Act 2017 Section 140: Rules for Claiming Transitional Input Tax Credit and Related Conditions</h1> Under the Bihar Goods and Services Tax Act, 2017, Section 140 outlines transitional provisions for input tax credit. Registered persons, excluding those opting for composition levy, can claim credit for Value Added Tax and Entry Tax carried forward from previous returns in their electronic credit ledger. Credit is disallowed if inadmissible under the new Act, if returns for the preceding six months are incomplete, or if related to exempt goods. Credit for unavailed input tax on capital goods is permitted if admissible under both old and new laws. Conditions apply for credit on stock inputs, including possession of invoices issued within the last twelve months.
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