Tax calculation method revised: levy now based on the rate specified in the relevant GST rule, replacing turnover-based phrasing. The notification amends the prior wording to substitute the operative formula so that tax is 'an amount of tax calculated at the rate specified in rule 7 of the Bihar Goods and Services Tax Rules, 2017,' replacing the earlier turnover-based phrasing; the amendment is made under gubernatorial authority on Council recommendation, modifies Notification No. S.O.-105 of 29 June 2017, and comes into force on 1 February 2019.
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Tax calculation method revised: levy now based on the rate specified in the relevant GST rule, replacing turnover-based phrasing.
The notification amends the prior wording to substitute the operative formula so that tax is "an amount of tax calculated at the rate specified in rule 7 of the Bihar Goods and Services Tax Rules, 2017," replacing the earlier turnover-based phrasing; the amendment is made under gubernatorial authority on Council recommendation, modifies Notification No. S.O.-105 of 29 June 2017, and comes into force on 1 February 2019.
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