In this episode, we sit down with CA. Roshan Sapkota, an author of Tax Book to break down the essentials of tax and VAT for businesses and startups in Nepal. Whether you're just starting out or looking to ensure your business stays compliant, this conversation will provide you with the knowledge you need. We have covered key topics which you can check through timestamps below.

Relevant Links:
1. Udhog Registration Websites Link—- https://doind.gov.np/
2. Company Registration OCR websites: https://application.ocr.gov.np/faces/...
3. Business Registration Banijya websites– https://doc.gov.np/ and https://application.ocr.gov.np/faces/...
4. Schedule 1 (Negative List) of VAT Act for the list of Good and Services on which VAT is not applicable : https://ird.gov.np/public/pdf/7282578...
5. Link for PAN Search: https://ird.gov.np/pan-search
6. Format of Debt and Credit Invoice: Link- soon
7. Revised Bill from Shrawan 1: Link - soon

Timestamp:
03:53 Registration Process in Nepal, and things we must consider before registration?
08:53 Basic Concept of PAN and VAT, Registration of PAN/VAT, Threshold of VAT registration
12:30 What if I crossed 50 Lakhs sales, but missed vat registration compliance?
13:52 I am registered in PAN only, what is the limit of the single invoice amount?
15:48 Clarification of turnover up to 1 Crores. Should we audit and register in VAT?
18:19 Concept of VAT payment and VAT Input Credit?
28:00 Why can’t we get VAT input credit from the purchase from Bhatbhateni or some mart stores?
31:59 What is the Process of opening branches in other places? Tax compliances
35:19 Can I have more than one PAN for multiple proprietorship business?
39:44 Concept of online-billing system, online billing mandatory for turnover of 10 Crores
41:54 What to do if the VAT bill needs to be changed later?
43:44 Should we issue VAT invoice serially and date wise?
48:52 Allowable and disallowed expenses as per Income Tax Act? Tax planning
53:02 Business Receipts should be made in a Business account only? How can these provisions now control under invoicing?
01:00:39 Exemption and Schemes in Income Tax for both registered in PAN or not?
01:05:04 Exemption and Schemes in VAT?
01:07:44 Can we convert illegal income into white income by paying tax?
01:09:39 What are the mechanism of controlling fake bills? Very important
01:15:29 What is the concept of TDS? What are the general rate of TDS everyone must know?
01:20:41 What is the concept of mismatch in tax, its fine and how to avoid this?
01:25:28 What is the concept of full audit, its implications?
01:29:18 New provision of section 57, when there is change of equity by more than 50%? When investment is made by PEVC?
01:33:43 Final suggestions one must comply in their business?

Host:
CA. Suraj Dhakal:   / casurajdhakal  
Guest:
CA Roshan Sapkota:   / ca-roshan-sapkota-65900016b  
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Suraj Dhakal is a professional CA, Business Consultant, And Business Coach. He started sharing business strategies and business content to bring revolution in the startups and businessmen with a mission to convert dream businesses from busyness into real business. He begins with a simple concept of business where you will find every aspect of your business. It applies to every business, be it big or small.
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Email: [email protected]
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Editor/Camera/Graphics:   / manozghimiray  
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Disclaimer: This video is for informational purposes only and does not constitute financial advice. Always conduct your research and consult with a financial consultant.