Takes eight trucks under control for revenue evasion
KATHMANDU, Aug 31: Department of Revenue Investigation (DoRI) last week seized eight containers and trucks that were found supplying illegally imported goods to different parts of the country from Kathmandu.
Acting on a tip-off, DoRI raided the trucks and containers while they were on their way to Pokhara, Chitwan, Nepalgunj and Butwal.
This is the first time that DoRI monitored goods being supplied from one city to the other. It had, so far, been looking after goods imported to the country from different customs points.
Most of the trucks were carrying products like readymade garments and footwear products, among others. DoRI officials said they either had no bills or had under-invoiced bills. Some were carrying more quantity than specified in the bill, had few failed to identify the source of supply.
DoRI released the trucks after suppliers paid fine equivalent to total worth of goods. In case of under-invoicing, suppliers paid 13 percent VAT on different between the billed price and the valuation of good in addition to find on the VAT amount. “
"In one case, we found original bills hidden behind the packs of good”," a DoRI official told Republica.
DoRI collected fine of around Rs 700,000 from each truck. Similarly, it collected Rs 10 million in revenue from the raid.“
"We have now started investigating internal supply as we”l," Nirmal Hari Adhikari, director general of DoRI, said. He added that the department would monitor all internal supplies and trade in every ste“. "This is needed to control informal economy which is not only costing the state coffer dear, but also forcing consumers to pay mo”e," he added.
Adhikari estimates that proper regulation of supply of goods and imports alone can increase revenue by around 50 percent.
The country mobilized Rs 482 billion in revenue in the last fiscal year.
Investigative officials of DoRI told Republica that traders had under-invoiced denim pants costing Rs 1,500 to Rs 2,000 in the market at just Rs 58 per unit. Similarly, billed amount of women's handbag, which costs around Rs 1,500 per unit, is only Rs 200.
Monitoring officials say that the smuggling of goods grows during major festive seasons of Teej to Chhath or August to October.
Strict monitoring has made positive impact in revenue collection. Thanks to strict monitoring, jewelers are buying around 25 kilograms of gold on a daily basis from banks. Until three weeks ago, they were buying only 15 kilograms per day from formal channel and buying gold from informal source which would save them Rs 400,000 per kg gold.
Similarly, department store chains like Bhat-Bhateni, Big Mart and Saleways have changed the way of doings things following raids of market inspectors. They are now asking their suppliers to provide them genuine bills.
DoRI summons Bikal Paudel’s wife in illegal wealth acquisition...
