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 also said that the promotion and protection of local products is a priority of the government and that a policy of tax exemption has been adopted on essential goods. He said that it is the state’s policy to provide tax exemption on essential goods and that taxes on chhurpi, rudraksha, etc. have been abolished in the budget for the coming fiscal year to promote and protect local products.
He said, ‘There is no truth in the fact that VAT has been imposed on Ayurvedic medicines now. There has been no change in the tax rate on Ayurvedic medicines. What has been done since the past has only been continued. The state has a policy of giving tax exemptions to essential items. Accordingly, we have made some changes in the rates to promote domestic production and to provide tax exemptions to such medicinal and other essential items. This year, we have also abolished VAT on chhurpi, rudraksha, etc. in order to promote and protect local production.’
He insisted that the government’s declared policy regarding taxes has not been exceeded during the preparation of the budget for the next fiscal year.
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