Value Added Tax Act, 2052

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Value Added Tax Act, 2052 (1996)

Date of Royal Seal and Publication

2052-12-7 (20 March 1996)

Amendment:

  1. Value Added Tax (First Amendment) Act, 2058                                                                                                         2058.10.4 (17 Jan. 2002)
  2. Some Nepal laws Amendment Act,2063                                                                                                                       2063.6.28 (14 Oct. 2006)
  3. Republic Strengthening and Some Nepal Laws Amendment Act, 2066 (2010)                                                   2066.10.7 (21 Jan. 2010)
  4. Some Nepal Laws Amendment Act, 2016                                                                                                                    2072.11.13 (25 Feb. 2016)
  5. The Financial Act, 2018 (2075)                                                                                                                                      2075.3.32 (16 July 2018)
  6. The Financial Act, 2019 (2076)                                                                                                                                      2076.3.30 (15 July 2019)
  7. The Financial Act, 2020 (2077)                                                                                                                                      2077.3.15 (29 June 2020)
  8. The Financial Act, 2021 (2078)                                                                                                                                      2078.6.13 (29 Sept. 2021)

 Act Number 14 of the year 2052 (1966)

Preamble
Preamble

Section 1: Short Title and Commencement
Section 1: Short Title and Commencement

Section 2: Definitions
Section 2: Definitions

Section 3: Tax Officer may be appointed or Designated
Section 3: Tax Officer may be appointed or Designated

Section 4: Jurisdiction of a Tax Officer
Section 4: Jurisdiction of a Tax Officer

Section 5: Value added Tax to be levied
Section 5: Value added Tax to be levied

Section 5A: Tax not to be levied on Transfer of ownership of transactions may not affect
Section 5A: Tax not to be levied on Transfer of ownership of transactions may not affect

Section 5B: Power to order for registration
Section 5B: Power to order for registration

Section 6: Place and Time of supply
Section 6: Place and Time of supply

Section 7: Rate of Tax
Section 7: Rate of Tax

Section 8: Assessment of Tax and Collection
Section 8: Assessment of Tax and Collection

Section 8A: Provision of bank guarantee
Section 8A: Provision of bank guarantee

Section 9: Exemption for Small Vendor
Section 9: Exemption for Small Vendor

Section 10: Registration
Section 10: Registration

Section 10A: Special provision on temporary registration
Section 10A: Special provision on temporary registration

Section 10B: Special Provision on Registration of Joint Venture
Section 10B: Special Provision on Registration of Joint Venture

Section 10C: Special Provision on Updating of Registration Records
Section 10C: Special Provision on Updating of Registration Records

Section 11: Cancellation of Registration
Section 11: Cancellation of Registration

Section 12: Taxable Value
Section 12: Taxable Value

Section 12A: To Levy Tax on Transaction of Timber
Section 12A: To Levy Tax on Transaction of Timber

Section 13: Market Value
Section 13: Market Value

Section 14: Invoices to be Issued
Section 14: Invoices to be Issued

Section 14A: Electronic Invoice
Section 14A: Electronic Invoice

Section 15: Unregistered Person not to collect Tax
Section 15: Unregistered Person not to collect Tax

Section 16: Accounts of Transactions to be Mentioned
Section 16: Accounts of Transactions to be Mentioned

Section 16A: Records processed by computer to be acceptable as evidence
Section 16A: Records processed by computer to be acceptable as evidence

Section 16B: To Deduct Tax Paid for Goods Damaged
Section 16B: To Deduct Tax Paid for Goods Damaged

Section17: Tax Deduction
Section17: Tax Deduction

Section 18: To Submit Tax Returns
Section 18: To Submit Tax Returns

Section 19: Tax Payment
Section 19: Tax Payment

Section 20: Tax Officer May Assess Tax
Section 20: Tax Officer May Assess Tax

Section 21: Tax Recovery
Section 21: Tax Recovery

Section 22: Assessment of Tax in Special Circumstance
Section 22: Assessment of Tax in Special Circumstance

Section 22A: Provision Against Tax Evasion Plan
Section 22A: Provision Against Tax Evasion Plan

Section 23: Powers of Inspection and Audit
Section 23: Powers of Inspection and Audit

Section 23A: Local administration and police to render assistance
Section 23A: Local administration and police to render assistance

Section 23B: This Act to prevail on tax provision
Section 23B: This Act to prevail on tax provision

Section 23C: To Purchase Goods Under-Invoiced
Section 23C: To Purchase Goods Under-Invoiced

Section 23D: Power to Hold in Custody or Seize or Demand Security
Section 23D: Power to Hold in Custody or Seize or Demand Security

Section 24: Treatment of Deduction exceeding Tax Liability
Section 24: Treatment of Deduction exceeding Tax Liability

Section 25: Tax May Be Refunded
Section 25: Tax May Be Refunded

Section 25A: Tax Paid in Purchase by Foreign Tourist to be Refunded
Section 25A: Tax Paid in Purchase by Foreign Tourist to be Refunded

Section 25B: Tax to be Refunded From Customs Point in Re-Exportation
Section 25B: Tax to be Refunded From Customs Point in Re-Exportation

Section 25C: Tax to be Refunded in Re-Exportation
Section 25C: Tax to be Refunded in Re-Exportation

Section 25C (1): Tax to be Refunded in Excess Payment Made Under Deed or Contract
Section 25C (1): Tax to be Refunded in Excess Payment Made Under Deed or Contract

Section 25 C (2): Tax Paid in Purchase by the Drugs Industry to be Refunded
Section 25 C (2): Tax Paid in Purchase by the Drugs Industry to be Refunded

Section 25D: Tax Not to be Refunded
Section 25D: Tax Not to be Refunded

Section 26: Interest
Section 26: Interest

Section 27: To be treated as Tax
Section 27: To be treated as Tax

Section 28: Provision relating to Imports
Section 28: Provision relating to Imports

Section 29: Punishment
Section 29: Punishment

Section 29A: Power of Department to Order for Deposit of Fine
Section 29A: Power of Department to Order for Deposit of Fine

Section 29B: Concerned Officer to be Responsible
Section 29B: Concerned Officer to be Responsible

Section 30: Suspension of Transactions
Section 30: Suspension of Transactions

Section 30A: Power to Order for Re-assessment of Tax
Section 30A: Power to Order for Re-assessment of Tax

Section 31: Power equal to a Court
Section 31: Power equal to a Court

Section 31A: Power to make Application for Administrative Review
Section 31A: Power to make Application for Administrative Review

Section 32: Appeal to the Revenue Tribunal
Section 32: Appeal to the Revenue Tribunal

Section 32A: Advance Ruling
Section 32A: Advance Ruling

Section 32B: Public Circular
Section 32B: Public Circular

Section 33: Security To be Deposited
Section 33: Security To be Deposited

Section 34: Delegation of power
Section 34: Delegation of power

Section 34A: Power to Obtain Expert’s Service
Section 34A: Power to Obtain Expert’s Service

Section 35: Identity Card of Tax Officers
Section 35: Identity Card of Tax Officers

Section 36: Serving of Notice
Section 36: Serving of Notice

Section 37: Confidentiality
Section 37: Confidentiality

Section 38: Tax Officers to be Punished
Section 38: Tax Officers to be Punished

Section 39: No Responsibility for the act Carried out with Good Faith
Section 39: No Responsibility for the act Carried out with Good Faith

Section 40: Reward and Informer Expense
Section 40: Reward and Informer Expense

Section 41: Power to Frame Rules
Section 41: Power to Frame Rules

Section 42: Addition and Alteration in the Schedules
Section 42: Addition and Alteration in the Schedules

Section 43: Other Matters to be Governed by Prevailing Law
Section 43: Other Matters to be Governed by Prevailing Law

Section 44: Repeal and saving
Section 44: Repeal and saving

Schedule-1 Relating to Sub-section (3) of Section 5 of Value Added Tax Act, 2052 (1996)
Schedule-1 Relating to Sub-section (3) of Section 5 of Value Added Tax Act, 2052 (1996)

Schedule-2 (Relating to Sub-section (2) of Section 7)
Schedule-2 (Relating to Sub-section (2) of Section 7)

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