Bihar Value Added Tax Act : Self-Assessment of tax. Indian Bare Acts :

Bihar Value Added Tax Act,2005

Act No : 27

Section : Self-Assessment of tax.

26. Self-Assessment of tax.-(1) Subject to the provisions of section 25, the tax due in respect of a financial year from every registered dealer, who has furnished the return and statement mentioned in section 24, shall be deemed to have been assessed.(2) Notwithstanding anything contained in sub-section (1), the Commissioner may, in the interest of revenue, select any registered dealer for detailed audit of his business, on the basis of a selection model as may be prepared for such purpose, incorporating therein such criteria as may be deemed fit by the Commissioner.(3) The audit of the business of a dealer selected under sub-section (2) shall be conducted, within a period of twenty-four months from the due date within the meaning of sub-section (3) of section 24, in such manner as may be prescribed.