Kathmandu. Director General of the Internal Revenue Department, Madan Dahal, has clarified that there has been no change in the tax rate on Ayurvedic medicines.
Speaking at the Finance Committee meeting held at Singha Durbar on Wednesday, Director General Dahal said that no new tax has been imposed on Ayurvedic medicines, but only the tax rate that has been imposed since previous years has been continued.
He stated that the promotion and protection of local products is a priority of the government and also said that a policy has been adopted to provide tax exemptions on essential goods. He said that it is the state’s policy to provide tax exemptions on essential goods. He said that in the budget for the coming fiscal year, the tax on chhurpi, rudraksha, etc. has also been abolished in order to promote and protect local products.
He said, “There is no truth in the fact that VAT has been imposed on Ayurvedic medicines now. No change has been made in the tax rate on Ayurvedic medicines. It is only a continuation of what has been done since the past. The state’s policy is to provide tax exemptions on essential goods. Accordingly, we have made some changes in the rate in line with the policy of promoting domestic production and providing tax exemptions on such medicinal and other essential goods. This year, we have also abolished VAT on chhurpi, rudraksha, etc. in order to promote and protect local products.”
He insisted that the government’s declared policy regarding taxes has not been exceeded during the preparation of the budget for the coming fiscal year.
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