FENEGOSIDA reps consult with IRD on e-billing issue

A delegation led by Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA) President Manik Ratna Shakya meets with Inland Revenue Department (IRD) Director General Ritesh Kumar Shakya in Kathmandu, on Wednesday, June 8, 2022.

KATHMANDU: Representatives of Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA) have consulted with the Inland Revenue Department (IRD) on the issue of e-billing.

A delegation led by FENEGOSIDA President Manik Ratna Shakya met with IRD Director General Ritesh Kumar Shakya and held necessary consultations on the issue.

IRD has recently issued information that the taxpayers who have transacted more than Rs 100 million in any of the goods and services in the fiscal year 2021/22 and 2020/21 have to issue electronic invoices. FENEGOSIDA President Shakya inquired about the same issue in order to avoid ambiguity.

On the occasion, IRD Director General Shakya clarified that the taxpayers who have transacted more than Rs 100 million in any of the goods and services should compulsorily issue invoices through electronic means. According to him, the electronic invoice will be included in the accounting system of the businessperson. The IRD Director General expressed his view that it will instil the habit into businesspersons to do electronic transactions.

The meeting also discussed various aspects of gold and silver businesses.

FENEGOSIDA Vice President Bipin Ramudamu among others were present at the meeting.

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