The State Government of Bihar vide its notification dated 1st January 2021 has published Bihar Settlement of Taxation Disputes (Second) Ordinance, 2020.
The following provisions has been inserted under the ordinance:
Any 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.
The Arrear of tax on account of failure to furnish or produce any statutory Certificate or Declaration for which 100% of remaining balance amount of the arrear of tax in dispute, as reduced by the amount of tax involved in the value of Certificates/Declarations in the possession of the applicant till the date of application, or the amount already paid towards such arrear, whichever is higher shall be settled.
Further for other arrear of tax, 35% of the arrear of tax in dispute or the amount already paid towards such arrear, whichever is higher shall be settled.
Any party wishing to settle a dispute shall furnish to the prescribed authority, an application in such form and manner and within such time as may be prescribed.
