The Inland Revenue Department has urged all businesses to obtain a mandatory Permanent Account Number (PAN) and issue bills for their transactions. Starting from the current fiscal year 2083/84, the government has initiated a tax incentive gift program. Under this program, businesses operating without a PAN are now required to obtain one and issue bills for their market transactions.
Consumers who purchase goods or services worth more than NPR 100 will be eligible for daily gifts up to NPR 100,000 and up to NPR 1 million over 15 days when a bill is issued. As of Monday, approximately 1.1 million transactions have been recorded. According to the department, by noon on Monday, the number of consumer transactions reached 1,082,622. This figure includes transactions conducted via QR code as well as cash transactions for which bills were uploaded.
According to the department’s information officer, Keshav Raghuvanshi, between Shrawan 1 and 15, a total of 1,074,796 transactions made through QR code payments are eligible for the gift program. Since Saturday, the facility to upload physical bills has also been made available. The department plans to reward 15 individuals each day with NPR 100,000 and one individual with a special bumper prize of NPR 1 million during the first 15 days. The announcement of the program’s first prizes will be made soon.
