FM Refuses VAT Waiver On Gas

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Sept. 3, 2010, 5:45 p.m. Published in Magazine Issue: Vol.: 4 No.-07 September 3-16, 2010 (Bhadra 18, 2067)
The Ministry of Finance (MoF) has refused to waive Value Added tax (VAT) on Liquefied Petroleum Gas (LPG). Earlier, a high level government committee headed by Chief Secretary Madhav Ghimire had recommended waiver of VAT on LPG. The committee included Revenue Secretary Krishna Hari Baskota. But Finance Minister Surendra Pandey refused to agree with its recommendations. Earlier the Nepal Oil Corporation (NOC) had said that it can bring down the price of cooking gas once the 13 percent VAT is waived by the government. It had said that if the VAT is waived it can reduce the price of LPG by Rs 120 per cylinder. At present, the price of LPG per cylinder is Rs 1250.

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