KATHMANDU, July 12: Entrepreneurs from various sectors have said that more time was needed for implementation of new rules including issuance of electronic invoice, making PAN mandatory for workers, and web-based tracking of cargoes.
Ramesh Maharjan, president of the Federation of Nepal Gold, Silver, Gem and Jewelry Associations, said that it was difficult for the gold and silver businesses to issue electronic invoice.
“The rule to issue electronic invoice for transaction above Rs 350 million is challenging for us in the present situation. On the one hand, consumers often bring raw material for recycling and on the other, this business has been running in a traditional style,” said Maharjan. “We need proper study, homework, and training on what kind of software we can use to issue the electronic invoice,” he said.
He also said that making PAN mandatory for all workers would create problem in case of workers with Indian nationality.
“This rule should be implemented from next fiscal year to give us time to prepare,” Maharjan said.
Speaking at a talk program on 'Present situation of commerce and supplies' in the capital on Friday, members of the business community welcomed the provisions introduced the government, stating that they would benefit local industries and consumers, and strengthen tax administration.
However, they said that necessary mechanism and infrastructure were needed for their implementation.
PAN mandatory for all income earners from mid-July
The program was organized by Nepal Chamber of Commerce (NCC). Minister of Industry, Commerce and Supplies Matrika Prashad Yadav attended the program.
Speaking on the occasion, business sector representatives said that web tracking was difficult for the movement of local goods. Secretary at the Ministry of Industry, Commerce and Supplies Kedar Bahadur Adhikari said that this issue would be discussed at the ministry.
Rajesh Kaji Shrestha, president of the NCC, said that in terms of pricing, the government should classify commodities of basic necessity and items of luxury. He also said that custom tariff was increasing day by day, which went against the norm of the World Trade Organization that calls for lowering custom tariffs.
Secretary Adhikari said that getting to see price tag of commodities was a fundamental right of the consumer. “We will be making an act, and will strictly monitor the market in case of price tag and expiry date of products,” he said.
“Imposing anti-dumping duties is a good initiative to promote local production. But the government should ensure that raw materials are available locally so that we could sell our products competitively and with the same standards as imported products,” said Chandi Prasad Aryal, President of Garment Association Nepal.
Secretary Adhikari, addressing concerns of the local producers, said that among the 27 products for which the government has decided to provide grants on exports, eight industries have demanded Rs 110 million. “However, the demand should be made within 60 days of export,” he said.
Participants on the occasion said that in addition to Birgunj, other custom points should also be brought into operation for smooth movement of bulk cargoes.
Lokmanya Golchha, chairman of Golchha Organization, suggested using the Dhamra port in India's Odisha for ease of foreign trade.
The business sector representatives also said that specific programs and policies should be introduced to promote the export of medicinal herbs of Nepal.
Yadav said that the government would continue dialogue with the private sector to understand the issues related to commerce and supplies. “We request the private sector to inform us about their issues,” he said.
