Author: space4knews

Nepal Electricity Authority has started applying a 5 percent Value Added Tax (VAT) on electricity bills for consumers using more than 50 units from mid-July. However, VAT charges were included in electricity bills for consumption in June, sparking public outcry over how VAT meant to start in July was applied retroactively to the previous month. The authority defends its position by stating that VAT applies based on the bill issuance date, not the consumption period; hence, all bills issued after July 1 fall under the VAT system.

According to the fiscal year’s budget provisions, VAT was scheduled to be implemented from July 17, applying a 5 percent charge on electricity bills exceeding 50 units. Finance Minister Dr. Swarnim Wagle had announced this directive. Despite this, it has been found that the Nepal Electricity Authority began collecting VAT on electricity revenue starting June. Even if June’s electricity consumption bills are paid in July, they have been issued with VAT included.

The imposition of VAT on electricity consumption from June billed in July has triggered widespread protests. Many consumers have shared evidence on social media highlighting VAT charges on their June consumption bills. A senior official from the authority explained that all bills issued after July 1 are subject to VAT regardless of the consumption period mentioned in the bill. Therefore, VAT must be applied as per the issuance date rather than the consumption date.

While the authority maintains that all bills issued after July 1 fall under the VAT system using the bill issuance date as the basis, the Revenue Department has stated that official verification depends on reviewing the relevant bill and meter reading data. The issue reveals some ambiguity between the electricity authority and tax administration concerning the imposition of VAT on June consumption starting from July.

Nepal’s foreign trade reached NPR 2.411 trillion in the fiscal year 2082/83, marking a 16 percent increase compared to the previous year. During this period, Nepal exported goods worth NPR 315 billion, with soybean oil accounting for the largest share. According to customs department data, the trade deficit amounted to NPR 1.781 trillion, primarily driven by significant fuel imports.

The highest foreign trade volume was recorded in the fiscal year 2078/79, while in 2081/82 trade totaled NPR 2.081 trillion. In the most recent fiscal year, the value of exported goods reached NPR 315 billion. The customs department reported that soybean oil exports amounted to NPR 128 billion, making it one of the largest export commodities.

By the month of Ashadh, imports reached NPR 2.096 trillion and exports stood at NPR 315 billion, bringing the total foreign trade value to NPR 2.411 trillion. The trade deficit remained at NPR 1.781 trillion. Nepal’s main foreign trade partners are India and China, with imports from India amounting to NPR 1.210 trillion.

The Patan High Court has issued an order to hold businessman Shankarlal Agrawal in custody during the trial in a banking fraud case. The order was delivered by the bench comprising Justices Arjun Prasad Koirala and Kavi Prasad Nyaupane. Agrawal was taken into custody by the Central Investigation Bureau of the police on July 22.

The order mandates that Agrawal remain held for investigative purposes. This development has intensified legal scrutiny over the businessman’s activities.

A discussion was held on finalizing the draft Infrastructure Tribunal Bill aimed at ensuring timely completion of infrastructure projects and resolving disputes efficiently. The meeting at the Ministry of Law involved Minister Sunil Lamsal, members of the National Planning Commission, and senior ministry officials. The ministry stated that the bill was prepared based on recommendations from a study committee’s report. 7 Shrawan, Kathmandu.

The discussion focused on the ‘Bill on Provision for Infrastructure Tribunal,’ designed to facilitate timely completion of infrastructure construction and development projects and expedite resolution of related disputes. Participants included Minister for Infrastructure Development Sunil Lamsal, National Planning Commission member Arjun Jung Thapa, Secretary of the Ministry of Infrastructure Development Gopal Prasad Sigdel, and Secretary of the Ministry of Law, Justice and Parliamentary Affairs Parashwar Dhungana.

Previously, the Ministry of Law, Justice and Parliamentary Affairs had formed a study committee to conduct an extensive review addressing necessary policy, legal, and institutional reforms to ensure timely completion and swift dispute resolution in infrastructure construction and development projects. The committee submitted its report along with recommendations to the ministry. Based on these recommendations, the Ministry prepared the ‘Bill on Provision for Infrastructure Tribunal.’ Following the discussion, the ministry stated that detailed deliberations were held on further improving and finalizing the bill.

The Nepal Rastra Bank has officially authorized the use of 200 and 500 denomination Indian currency notes within Nepal. Indian rupee notes issued after November 9, 2016, are now permitted to be brought into Nepal, carried across borders, and transacted in the Nepali market. Central Bank spokesperson Guru Poudel announced that once all necessary procedural requirements were fulfilled, the use of these rupee notes was made legal.

Kathmandu, 23 July – The Nepal Rastra Bank has established formal provisions to allow the use of Indian banknotes in denominations of 200 and 500 rupees. Having completed the required procedural arrangements, the Central Bank has opened the use of these notes. According to the Central Bank, Indian rupee notes of denominations up to 500 issued after November 9, 2016, can now be imported to or exported from India. These notes can be freely transacted in the Nepali market, and banks are authorized to engage in easy exchange of these notes.

On Thursday, the Central Bank issued an order implementing the Government of Nepal’s decision to permit the circulation of these rupee notes. However, Indian 500 and 1000 rupee notes issued before November 2016 remain prohibited for use. Similarly, the circulation or possession of 2000 rupee notes currently in use is also restricted. The Central Bank has clarified that Indian rupee notes cannot be brought into or taken out from countries other than India.

In November 2016, the Indian government demonetized 500 and 1000 rupee notes issued before that date, which had a significant impact in Nepal. High denomination Indian rupee notes were widely used in Nepal’s banking sector, with approximately 70 million rupees in 500 and 1000 denominations held in Nepali banks. Despite repeated efforts, Nepal was unable to get permission from India to exchange these notes, leading to a halt in their usage within Nepal.

Now, Nepali banks can accept these notes from the public and send them up to the Nepal Rastra Bank, which will then deposit them into its account with the Reserve Bank of India (RBI). Following these arrangements, the use of the higher denomination Indian rupee notes has been reopened, explained Central Bank spokesperson Guru Poudel. Last year, the RBI amended the Foreign Exchange Management Act 2015 to permit the transportation of high denomination Indian rupee notes between Nepal and India. Under this new regulation, 100 rupee notes can be brought without limit, whereas notes above 100 rupees can be carried in amounts up to 25,000 rupees.

Following the RBI’s policy change, the Government of Nepal also opened the use of high denomination Indian notes. However, the Central Bank awaited completion of all procedural requirements before implementation. Now that these prerequisites are in place, the use of these notes has officially commenced from Thursday onwards.

In the fiscal year 2082/83, Nepal imported 2,267,419 units of smartphones worth NPR 4.9 billion. With rising demand for expensive and premium smartphones, the increase in import value has outpaced the growth in quantity. Customs statistics reveal that China and India account for over 99 percent of the commercial smartphone market in Nepal.

Kathmandu, 7 Shrawan – Both smartphone usage and imports are rapidly increasing in Nepal. According to data from the Department of Customs, smartphones worth approximately NPR 4.9 billion entered the country in the fiscal year 2082/83. While the volume of imported smartphones saw only a modest rise compared to the previous year, the investment in these devices and government revenue collected from related taxes showed significant growth.

Customs data indicates that a total of 2,267,419 smartphones were imported into Nepal during fiscal year 2082/83. The estimated expenditure on these imports reached NPR 4,869,340,000. The government collected revenue amounting to NPR 908,230,000 from these imports. In comparison, Nepal had imported 2,184,694 smartphones in fiscal year 2081/82.

The main smartphone suppliers to Nepal’s mobile market continue to be China and India, as shown in customs records. Among the imported smartphones last fiscal year, the highest number, 1,889,664 units, originated from China, with a total value of NPR 3,679,272,700. India is the second largest supplier, exporting 364,842 smartphones valued at NPR 1,099,060,000.

In ancient times, women from royal families and the upper classes used colors derived from natural sources like beetroot, saffron, and hibiscus to adorn their lips. Today, countless beauty products such as lipsticks, lip tints, and lip glosses are easily accessible. However, studying how women in centuries past beautified their lips—making them attractive, pink, and charming without modern cosmetics—is fascinating. History reveals that in ancient India, the use of natural ingredients for enhancing beauty was widespread. Ayurveda prescribed various herbal, floral, and plant-based pastes and dyes for skin and lip care. Queens and noblewomen preferred natural colors over chemical products. These natural dyes not only made the lips look alluring but also nourished them. Thus, the secret to their beauty lay not just in makeup but in the regular use and care with natural materials. Though modern long-lasting lipsticks or tints were unavailable, naturally prepared dyes gently tinted lips in shades of red or pink. Such natural beauty products were extensively used during special occasions, royal court ceremonies, and religious rituals.

Beetroot has long been regarded as a primary source of natural dye. Its deep red color imparts a light pink or reddish tint to the lips. Beetroot contains betalaine, a natural pigment, along with vitamin C and antioxidants that help prevent dryness and maintain lip health. Even today, many extract beetroot juice and apply it to the lips using cotton. After leaving it for a while and lightly wiping, a natural pink hue emerges. Saffron, considered a luxury beauty ingredient among royals, is one of the most expensive natural spices worldwide. It was used both in cuisine and cosmetic care by royal families in ancient India, Persia, and Central Asia. Historical accounts note that some queens mixed saffron with rose water or milk and applied it on their face and lips. Saffron was believed to impart a soft golden-reddish tint while keeping lips supple.

Deep red hibiscus flowers were also popular as a natural lip color. Its petals were crushed or its juice extracted and applied on the lips. Hibiscus contains natural pigments and antioxidants such as anthocyanins, which aid in skin care. In some regions, hibiscus juice was mixed with honey, ghee, or sesame oil to create a natural lip balm believed to add color and protect lips from chapping.

Since ancient times, women of high status and royalty in various regions also used rose petals, pomegranate peel or seeds, and plants like manjistha for coloring lips and skin. Some natural pigments were combined with ghee, sesame oil, or honey to enhance durability. The modern form of lipstick is thought to have been developed towards the end of the 19th century. Before this, various civilizations worldwide decorated lips using natural dyes derived from flowers, fruits, minerals, and plants. In India, owing to Ayurveda and natural healing traditions, plant-based materials were particularly popular. If you prefer natural alternatives over chemical lipsticks, natural lip colors from beetroot, saffron, or hibiscus can be used. However, such natural dyes do not last as long or appear as intense as modern lipsticks. It is advisable to perform a patch test to check for allergies or sensitivities before using any natural product. Viewed in this light, the beauty secrets of queens were not in expensive cosmetic products but in colorful flowers, herbs, and fruits gifted by nature. These natural methods they adopted are now regaining popularity with the rise of ‘clean beauty’ and ‘herbal skincare’ trends.