UNB Associates

Contents of the Report

Amnesties in income tax Act .................................................................................................................................. 1

Amendments in INCOME TAX ACT, 2058................................................................................................................ 2
INCOME TAX (13th AMENDMENT) RULE, 2080........................................................................................................ 7
Amnesties provided for VAT .................................................................................................................................. 7
Amendments in VAT ACT, 2052 .............................................................................................................................. 9
Amendments in Schedule 1 of VAT Act, 2052 Schedule ........................................................................................... 9
Ammendments in schedule 2 of the act ................................................................................................................ 14
VAT (25th Amendments) Rules, 2080 ..................................................................................................................... 14

AMENDMENTS APPLICABLE FOR INCOME YEAR 2080-81 (By Finance Act 2080)

Amnesties in income tax Act

i. Tax Amnesty Scheme for small amount of tax dues (Section 25)

New Provision

Any taxpayer whose tax was assessed upto F.Y. 2063/64 BS and tax assessment was made upto Ashad
End, 2065 and unpaid tax amount is up to NPR 50,000 in each assessment the balance amount
(Bakyauta) and interest thereto shall be waived off.

ii. Income Tax Amnesty for Entities distributing Dividend/Bonus share from the amount received from
Further Public Offering (FPO) (Section 26)

New Provision

Entities collecting Share premium on FPO and distributed Dividend/Bonus share from such amount till
FY 2078/79 (2021-22) Pays Income tax amount on such distributed dividends/bonus share amount as
per Section 56(3) by end of Mangsir, 2080 , Fees and interest thereto shall be waived off.

iii. Income Tax Amnesty for Entities who have not included gain on bargain purchase in taxable income
till IY 2079/080 (Section 27)

New Provision
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Entities not paid tax on Gain on Bargain Purchase as calculated in Merger & Acquisition till FY 2079/80
(2021-22) Pays the Taxes by the end of Mangshir End, 2080 Tax of the previous Years, Interest and
penalty amount thereto shall be waived off.

iv. Tax exemption for Media House Business (Section 28)

New Provision

A concession of 25% shall be provided on applicable tax chargeable to business income for the
financial year 2079/80 for a resident person carrying out Media House Business.

v. Income Tax Amnesty for Individuals doing business transactions of securities, land, land/building
(Section 29)

New Provision

Individuals involved in business transactions of Securities, Land, Land/Building and not filed income
tax returns till FY 2078/79 Pays the Taxes by the end of Mangshir End, 2080 nterest and penalty
amount thereto shall be waived off

vi. Income Tax Amnesty for Business of providing Foreign Employment or Education Consultancy
Services (Section 30)

Section 25 New Provision

(1) Any person involved in the business of providing foreign employment or education
consultancy services and neither declared his/her real income or not paid tax there
to of preceding years Declares such income and Pays the income tax applicable till
2080 Chaitra fine and Interest shall be waived off.

Amendments in INCOME TAX ACT, 2058

Major Amendment made by Finance Act 2080 as on 29th May 2023 (15th Jestha 2080) is mentioned here applicable
for Income Year 2080-81:

Section Ammended Provision

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2(ka na 1) “Adjusted Taxable Income” means taxable income of any person of any income year without
deducting any amount under section 12, 12ka, 12kha, 12ga and before deducting expense u/s
14(2),17 and 18

4 (4ka) Income shall be more than 30 lakhs but less than or equal to 1 crore.
(kha)

10 (Nga) For the tax exemption of educational institutions, memorandum of understanding with Government
of Nepal or Government entities is necessary.

11(1) An agricultural income derived from sources in Nepal during an income year by a person, other than
the income from an agriculture business derived by a registered firm, or company, or partnership,
or a corporate body, or through the land above the holding ceiling as prescribed in the Land Act,
2021, is exempt from income tax.

But, if any income is earned by carrying on agricultural business by being registered as any firm,
company, partnership firm and other corporate body, vegetable dehydration business, cold store
business, 50 % of applicable income tax shall be exempted.

CASE STUDY:

Nepal Agro Farm Private Limited is an agricultural based industry doing commercial farming and
processing of cash crops since many years. During an Income Year 2080-81 it earned Rs. 1500,000
as a Taxable Income from such business. Compute its tax liability for the Income Year 2080-81.

11(2Kha) Removed
(ga)

11(3) If a special industry has been operated in remote, undeveloped and least developed areas,
(Kha) respectively ten, twenty and thirty percent of the tax leviable on income of the years for up to ten
years from the date of commencement of the commercial production or transaction by that
industry started operating. Provided that the special industry established in the Karnali Province
and hilly district of Far Western Province providing direct employment to more than hundreds of
Nepali citizen shall be exempt from income tax for a period of fifteen years from the date of
commencement of its transaction

The additional concession available on top of the existing concession specified in section 11 (2kha)
(ka) and (kha) for the income derived by special industries in their full year of operation for a fiscal
year has been removed as per the provisions of Section 11 (2kha) (ga). However, the same provision
has now been added to Section 11 (5).

11(5) In case a person in-addition to the facilities under sub-section (2B) is entitled to more than one
concession on a single income under this section, he shall be entitled to only one concession chosen
by him.

4(4ka) Tax in case of resident natural person fulfilling the following conditions:
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a. The person has income from source in Nepal only

b. The person has turnover more that Rs 3 Million but less than upto Rs 10 Millions and Profit is
upto 1 Milion

c. The person doesn’t provide consultancy services & Expert services

22(2) If a natural person receives a lump sum payment for past years due to employment after a court
case has been settled, accounting for tax purposes shall be done on an accrual basis in the relevant
income year and not on cash basis.

Sch 1 (13) Annual Income Tax Per

Types of Vehicle
Vehicle

(1) Car, Jeep,Van, Micro Bus

(Ka) upto 1300 C.C Rs. 5500

(Kha) From 1301 to 2000 C.C Rs. 6000

(Ga) From 2001 to 2900 C.C Rs. 6500

(Gha) From 2901 to 4000C.C Rs.8000

(Na) above 4001 C.C Rs. 9000

(2) Mini-Bus, Mini Truck ,Water Tanker Rs. 8000

(3) Mini Tiper Rs. 9000

(4) Truck, Bus Rs. 10500

(5) Dozer, Excavator, Loader,Roller, Crane like

Machinery Equipment Rs. 15500

(6) Oil Tanker, Gas Bullet, Tiper Rs. 15500

(7) Tractor Rs. 2500

(8) Power Tiller Rs. 2000

(9) Auto Rikshaw, Three-wheeler, Tempo Rs. 2500

(10) Electric Vehicle

(Ka) Upto 50 KW Rs 3000

(Kha) From 50 KW to 125 KW Rs 4000

(Ga) From 125 KW to 200 KW Rs 6000

(Gha) Above 200 KW Rs 7500

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88(1)(8) TDS at the rate of 1.5% during payment if the vehicle hire or carriage service provider are registered
in vat.

88(1( (9ka) TDS@ 5% shall be applicable on the interest for the loan received in foreign currency from an
international bank and other international financial institutions by reservoir or semi-reservoir-based
hydropower projects generating above 200 MW of energy, and attaining financial closure by mid-
April 2024 (Chaitra end 2082) (PY: TDS Exempt u/s 88 (4)(kha2))

88(3) Revision in TDS rate from 5% to 6% on interest on deposits, bonds, debentures, and government
bonds to any natural person for the deposit, a resident bank, financial institution, cooperative, or
any other body issuing bonds, or a company listed in accordance with prevailing laws.

89(3) The proviso clause of section 89(3) has been withdrawn and as an impact TDS shall be applicable on
payment made to non-resident for purchase of arms and ammunitions, weapons, and
communication equipment for self-use by Nepal Army, Nepal Police and Armed Police Force.

[95A TDS shall be attracted at 5% in case of amount earned in foreign currency through export of
(6)(b)] software or similar type of other electronic services

[95A TDS shall be attracted at 5% in case of amount amount earned in foreign currency through export of
(6)(c)] consultancy Services

[95A TDS shall be attracted at 5% in case of amount earned in foreign currency thorugh uploading audio-
(6)(d)] visual content on social media by resident natural person other than related to business

95A (7) Proviso clause has been added to section which implies that advance tax of 1.5 % shall be collected
on the import of goods attracting VAT.

95A (6e) A new section 6(e)) has been inserted in section 95A wherein a resident electronic business
operator (ecommerce operator) shall collect advance tax at the rate of 1% while making payment of
the amount to a person associated with their platform for the sale of goods, services, or goods and
services through its platform.

Schedule 1 Tax Rate for Single Natural Person

section 1
Subject to Sub Section (2) and (4), the taxable income of a resident natural person for an income-
(1)
year is taxed at the following rates:

(Ka) taxable income from employment upto Rs. 500,000 – 1%;

(Kha) taxable income in excess of Rs. 500,000 but not exceeding Rs. 700,000 –Rs. 5,000 as per
clause(Ka) for income upto Rs. 500000 and 10% of taxable income in excess of Rs. 500000;

(Ga) taxable income in excess of Rs. 700,000 and up to Rs. 1000,000- Rs. 25,000 as per clause
(Kha) for income upto Rs. 700,000 Rs. plus 20% taxable income in excess of Rs. 700,000.

(Gha) if taxable income in excesss of Rs. 1000,000 but up to Rs. 2,000,000- Rs. 85,000 as per
clause(Ga) for income upto Rs. 10,00,000 plus 30% taxable income in excess of Rs. 10,00,000.

(Nga) If taxable income in excess of 2 million but upto Rs 5 million, additional tax at 20% and in
excess of 5 million, additional 30% shall be charged on the tax rate as per clause (Gha)
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For a taxpayer having registered sole proprietorship firm, having income from pension, natural
person contributing to pension fund and contribution based social security fund 1% tax under
Clause (Ka) is not applied.

Schedule 1 Tax Rate for Couple

Section
Subject to Sub Section (4), the taxable income of a couple making an election under section 50 for
1(2)
an income-year shall be taxed at the following rates:

(Ka) taxable income from employment upto Rs. 600,000 – 1%;

(Kha) taxable income in excess of Rs.600,000 but not exceeding Rs.8,00,000 - Rs.6,000 as per
clause(Ka) for income upto Rs.600,000 and 10% of taxable income in excess of Rs. 6,00,000 ;

(Ga) taxable income in excess of Rs.800,000- but not exceeding Rs. 11,00,000 Rs.26,000 as per
clause (kha) for income upto Rs.8,00,000 plus 20% taxable income in excess of Rs.8,00,000.

(Gha) if taxable income in excess of Rs.11,00,000 but not exceeding Rs. 2,000,000 - Rs.86,000 as
per clause(Ga) for income upto Rs.11,00,000 plus 30% taxable income in excess of Rs.11,00,000.

(Nga) If taxable income in excess of 2 million but not exceeding 5 million , additional tax at 20%
and in excess of 5 million, additional tax at 30% shall be charged on the tax rate as per clause
(Gha)

For a taxpayer having registered sole proprietorship firm, having income from pension and income
of natural person contributing at contribution based pension fund and contribution based social
security fund 1% tax under Clause (Ka) is not applied.

Schedule 1 TAX RATE FOR CO-OPERATIVES

Section
Co-Operatives registered and carrying out transaction under Cooperative Act, 2074 except those
2(3)
carrying out transaction with tax exemption shall be taxed as follows:

(Ka) 7.5% tax rate if operated in Municipality area

(Kha) 10% tax rate if operated in sub metropolitan area.

(Ga) 15% tax rate if operated in Metropolitan.

However, in case of saving and credit cooperative shall be taxed as follows:

(1) 10% tax rate if operated in Municipality area

(2) 15% tax rate if operated in sub metropolitan area.

(3) 20% tax rate if operated in Metropolitan.

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The word “Entities involved in Financial Transaction” has been added after the word “General
Insurance Business” in Schedule 1(2) to include all such entities carrying out financial transactions
under the corporate tax rate of 30%.

INCOME TAX (13th AMENDMENT) RULE, 2080

Rule New Provision

23(2)

The amount to be deducted pursuant to Sub-section permanent number

permanent account number of Section 1 of Schedule1 of the Act shall not be more
than the pension income.

Amnesties provided for VAT

i. Vat Amnesty for EYE Hospital (section 31)

New Provision
Eye Hospital whether registered in VAT or not, If in the previous year who has dealt in the
Vatable item but not collected and deposited VAT, Pay amount equivalent to 5 percent of
the transaction amount between FY 2076-77 and Jestha 14, 2080 by the end of Ashwin
2080 or If tax has been determined where VAT is due or the case under administrative
review or other judicial body is withdrawn and pays amount

ii. VAT Amnesty for Graulated Wheat (Sooji) Industry (section 32)

New Provision
Person manufacturing and selling Granulated Wheat (Sooji) has not collected and deposit
the VAT for the period FY 2071/72 to 2076 Jestha 14 , Pay amount equivalent to 5 percent
of the transaction amount between 2071/72 and Jestha 14, 2076, by the end of Ashwin
2080 or If tax has been determined and VAT is due or the case under administrative review
or other judicial body is withdrawn and Pays the amount equivalent to 5 percent of the
transaction amount between FY 2071-72 and Jestha 14, 2076 and deposit the same by
the end of Ashwin 2080, remaining tax, additional fees, Interest and Penalty shall be
waived off.

iii. Tax Amnesty scheme for Non-resident in case of digital tax (Section 33)

New Provision
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Non-Resident person providing digital services more than NPR 2 million obtain PAN
Number or has already Obtained PAN Number, and Pays VAT due upto Jestha End, 2080
by 25 Ashad, 2080, interest, Additional fee & penalty shall be waived

iv. VAT Amnesty for Hire Purchase Trasnaction (Section 34)

New Provision
Person doing the Hire Purchase Transaction has not collected and deposit the VAT for the
period FY 2074/75 and FY 2077/78 Pay amount equivalent to 2 percent of the transaction
amount between FY 2074-75 and FY 2077-78 by the end of Mangsir 2080 OR If tax has
been determined and VAT is due or the case under administrative review or other judicial
body is withdrawn and pays the amount equivalent to 2 percent of the transaction amount
between FY 2074-75 and FY 2077-78 by the end of Mangsir 2080, Previous Year VAT and
additional fees, Interest and Penalty shall be waived off.

v. Vat Amnesty for the donation received by Non Government organization (section 35)

New Provision

In case of non-Govt Organizations registered under Association Registration Act, 2034

and received the donation from Donar organization and INGOs, if tax has been
determined where VAT is due or the case is under administrative review or other judicial
body, if withdrawn and application to be made to the Inland Revenue Department by
2080 Mangsir end, VAT and additional fee, Interest and Penalty there on shall be waived
off.

vi. Vat Amnesty for the person involved in Cosntruction business – Not filed vat return
(Section 36)
New Provision

Person involved in Construction Business Registered under VAT and not filed the VAT
Return or filed the return and not paid the VAT , if filing of VAT Return in case of non-
filer and Payment of VAT and 50% Interest amount by the end of Poush 2080 Fine,
additional Fee and Remaining Interest shall be waived off.

vii. Vat Amnesty for carriage/ Transportation Service Business (Section 37)
New Provision

Person who is required to be registered under the VAT Act, 2052 but has not registered
under the act and doing the business of Transportation Business and due to the non-
registration, no VAT has been paid, if pay amount equivalent to 5 percent on the
transaction value for the Vatable period by the end of Poush 2080 or if tax has been
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determined where VAT is due or the case under administrative review or other judicial
body is withdrawn and pays amount equivalent to 5 percent on the transaction value
for the Vatable period by the end of Poush 2080, remaining tax, additional fee, interest
and penalty shall be waived off.

viii. Waiver of VAT for herbal industires (Section 38)

New Provision

Herbal industries, registered or not registered under VAT, conducting taxable

transactions under the VAT Act, will have the remaining 95% VAT, interest, additional
fees, and penalties waived if they make a payment of 5% of the transaction value between
FY 2014-15 (2071-72) to 28 May 2023 (Jestha 14, 2080) by 14 January 2024 (Poush
end, 2080). This waiver also applies to cases where payment is due after tax assessment
or cases pending under administrative review or in legal proceedings in other judicial
bodies, provided the cases are withdrawn at the respective levels.

Amendments in VAT ACT, 2052

Section New Provision

Reverse Charge on VAT applicable if person registered or not hires or receives

8(2ka)
carriage/transport services from an unregistered person at early date of service
received date or payment date.

17(5kha) Section 8(2ka) added

Cash incentive on purchase through electronic medium only to provide on
25(1kha)
specified goods or services by publishing notice from the department.

29 (1Nga) If a person obtains an ineligible refund of VAT under the diplomatic VAT refund
outlined in Section 25(1) (Ka), (ka1), and (Ka2) through an automated
electronic medium, a penalty of 25% on the taxable amount can be imposed
by the tax officer

Amendments in Schedule 1 of VAT Act, 2052 Schedule

 VAT Exempt items added/ HS code removed from schedule 1

6.03 Flowers; cut flowers and flower buds of a kind suitable for
bouquets or for ornamental purposes, fresh, dried,dyed, bleached,
impregnated or otherwise prepared
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Fresh
0603.11.00/12
.00/13.00/14.0
0/15.00

0603.19.00 Others
0603.90.00 Others
6.04 Foliage, branches and other parts of plants, without flowers or
flower buds, and grasses,
mosses and lichens; suitable for bouquets or for ornamental
purposes, fresh, dried, dyed, bleached, impregnated

0604.20.00 Fresh
0604.90.00 Others
7.01 Potatoes; fresh or chilled
0701.90.00 Others
7.1 Vegetables (uncooked or cooked by steaming or boiling in water);
frozen
0710.10.00 potatoes,

Vegetables, leguminous; shelled or unshelled

0710.21.00 Peas (pisum sativum

0710.22.00 Beans (vigna spp., phaseolus spp.)
0710.29.00 Others
0710.30.00 Spinach, New Zealand spinach
0710.40.00 Sweetcorn
0710.80.00 Other Vegetables
0710.90.00 Vegetable mixtures
7.12 Vegetables, dried; whole, cut, sliced, broken or in powder, but not
further prepared
0712.20.00 Onions
8.04 Dates, figs, pineapples, avocados, guavas, mangoes and
mangosteens; fresh or dried
0804.40.00 Avocados

8.08 Apples, pears and quinces; fresh

0808.10.00 Apples
0808.40.00 Quinces
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8.09 Apricots, cherries, peaches (including nectarines), plums and sloes,
fresh
0809.10.00 Apricots
Cherries

0809.21.00 sour cherries

0809.29.00 Others
8.1 Other Fruits; fresh
0810.10.00 Strawberries ( ground raspberries, redberries)
0810.20.00 raspberries, blackberries, mulberries, and loganberries
0810.30.00 black, white or red currants and gooseberries
0810.40.00 cranberries, bilberries and other fruits of the genus vaccinium
0810.50.00 Kiwifruit
0810.60.00 Durians
0810.70.00 Persimmons
9.01 Coffee, whether or not roasted or decaffeinated; husks and
skins; coffee substitutes containing coffee in any proportion
11.02 Cereal flours; other than of wheat or meslin

11.04 Cereal grains otherwise worked (e.g. hulled, rolled, flaked, pearled, sliced
or kibbled) except rice of heading
no. 10.06; germ of cereals whole, rolled, flaked or ground)

12.11 Plants and parts of plants (including seeds and fruits), of a kind used
primarily in perfumery, in pharmacy or for insecticidal, fungicidal or
similar purposes, fresh, chilled, frozen or dried, whether or not cut, crushed
or
Powdered.

1211.20.00 Ginseng roots18

1211.30.00 Coca leaf
1211.40.00 Poppy straw
1211.50.00 Ephedra
201211.90.9 Others
21.06 Soyabean nuggets
27.1 Petroleum oils and oils obtained from bituminous minerals, other than
crude; preparations not elsewhere specified or included, containing by
weight 70 % or more of petroleum oils or of oils obtained from bituminous
minerals, these oils being the basic constituents of the preparations; waste
oils.
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52.01 5201.00.00 Cotton; not carded or combed
52.03 52.03 5203.00.00
Group 3:
Animals and
Animal
Products
2.06 Edible offal of bovine animals, swine, sheep, goats, horses, asses, mules or
hinnies; fresh, chilled or frozen
0206.21.00 tongue of bovine animals; frozen
0206.22.00 liver of bovine animals; frozen
0206.29.00 others
2.07 Meat and edible offal of poultry; of the poultry of heading no. 01.05, (i.e.
fowls of the species Gallus
domesticus), fresh, chilled or frozen

0207.14.00 Cuts and offal, frozen of fowls of the species Gallus domesticus
0207.27.00 Cuts and offal, frozen of turkey
0207.42.00 not cut in pieces, frozen of Duck
0207.45.00 Others; frozen of duck
0207.52.00 not cut in pieces, frozen of Geese
0207.55.00 Others; frozen of geese
3.03 Fish; frozen, excluding fish fillets and other fish meat of heading 0304
3.05 Fish, dried, salted or in brine; smoked fish, whether or not cooked before or
during the smoking process flours, meals and pellets of fish, fit for human
consumption
3.07 Molluscs; whether in shell or not, live, fresh, chilled, frozen, dried, salted
or in brine; smoked molluscs whether in shell or not, cooked or not before
or during the smoking process; flours, meals and pellets of molluscs, fit for
human consumption

Group 4 :
Agricultural
Materials
87.01 Tractors; (other than tractors of heading no 8709)
87.11 Motorcycles (including mopeds) and cycles; fitted with an auxiliary motor,
with or without side-cars; side-cars

Group 11:
Other goods
and Services
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54.01 Wool, not carded or combed
52.05 Cotton yarn (other than
sewing thread),
containing 85% or
more by weight of
cotton, not put up for
retail sale Cotton yarn; single, of uncombed fibres
84.07 Appropriate parts for
use in engines under
heading 84.07 or 84.08
84.09 Centrifuges, including
centrifugal dryers;
filtering or purifying
machinery and
apparatus for liquids or gases
84.21 Centrifuges including centrifugal dryers
8421.12.00 clothes-dryers
84.23 Weighing machines; excluding balances of a sensitivity of 5cg or better,
including weight operated
counting or checking machines and weights of all kinds

88.02 Aircraft (e.g. helicopters, aero planes); spacecraft (including

satellites) and suborbital and spacecraft launch vehicles
88.05 Aircraft launching gear, deck
arrestor or similar gear, ground
flying trainers, parts of the foregoing articles.
b) Other
goods and
services

Trekking and Tour package related services.

 Other Ammendments in Schdeule 1

Group 7: Books,
Newspaper and
published materials
49.1 Calenders of any kind, printed including
calender blocks
Group 9: Public
Transport and
carriage service
Air travel, service from machinery bridge,
public transportation carrying passengers
(Except cable car), rent of carrier, carriage
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service (Except carriage related to supply) and
cargo service for export.

Ammendments in schedule 2 of the act

Point Amended Provision
8 In case of vat refund for scooter used by handicapped person, recommendation
from concerned chief district officer chief district office is needed.
10 In case of deep cycle lead acid battery to be used in electric vehicle, zero percent
facility is provided on the recommendation of ministry of forest and environment
department of enviorment is needed.

VAT (25th Amendments) Rules, 2080

Rule New Provision
6(1) In case of transport vehicle hire or carriage service provided transaction above 50
lakhs, shall be registered in VAT
7Ka Special provision relating to temporary registration:
(1) Any person not registered (unregistered person) with Value Added Tax
and engaged in taxable transactions in exhibition, fair and similar other
programs to be organized temporarily, shall apply for registration
pursuant to Section 10Ka of the Act with tax officer along with
recommendation of concerned organizer.
(2) Two percent of the estimated income from the program shall be kept as
guarantee while filing an application pursuant to Sub-rule (1).
(3) Upon receipt of application pursuant to Sub-rule (1), Tax Officer shall
register the transaction and grant the certificate of registration bearing
Registration Number.
(4) Person registered upon Sub-rule (3) for cancellation of temporary
registration upon 7 days of completion of such exhibition, fair and
similar other programs shall present Value Added Tax return and
deposit Value Added Tax and should present original copy of permanent
account number, tax clearance certificate of temporary registration
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along with recommendation of concerned organizer to tax officer.
(5) Upon receiving the application to cancel the temporary registration
pursuant to Sub-rule (4), the concerned Tax Officer shall examine
the value added tax return together with other documents and
cancel the temporary registration within fifteen days and notify the
applicant.
(6) Guarantee furnished by the applicant as per Sub-rule (2) may be
adjusted with value added tax to be paid under Sub-rule (4).
(7) If upon examination pursuant to Sub-rule (5) additional tax liability
is assessed, the applicant shall be issued a three days’ notice to
deposit such additional tax. If the applicant does not deposit the
additional tax within such period, tax shall be recovered from the
amount furnished as guarantee by the applicant, and if the amount
is inadequate, the remaining amount shall be recovered from the
organizer.
26 In case brick industy, press,press and electronic publicaltion, movie hall, hotel,
(3kha) tourism business makes an application for quadrimester period, department may
allow to do so
The frequency of filing VAT Return shall be quadrimester (every four months)
instead of monthly for the VAT Registered Person whose annual turnover is up to
1 Crore.
45(4) Refund as per section 25(1) (ka), (ka1) and (ka2) shall be made automatic through
electronic system. Directive regarding such refund shall be as prescribed by the
department.
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