KATHMANDU: During the fiscal year 2080–81 BS, the Inland Income Office in Bhadrapur raised Rs 307 million between mid–June and mid–July, for a total of Rs 3.21 billion in income. In comparison to the previous fiscal year 2079/80 BS, when Rs 3.01 billion was collected, this represented an increase of Rs 195.29 million. Nevertheless, the office only reached 84.57% of its income objective, which was Rs 3.79 billion.
Bhim Prasad Acharya, the information officer, ascribed the shortfall to a downturn in national commerce and economic activity. The revenue was derived from several sources, including income tax (Rs 1.70 billion), rental income tax (Rs 36.4 million), interest (Rs 115.9 million), value-added tax (Rs 1.29 billion), and excise duty (Rs 644.65 million). Notably, income from VAT decreased due to reduced payments for development projects in the district.
Despite an overall rise in revenue collection over the previous fiscal year, the office's performance emphasizes the problems faced as a result of variable trade volumes and their influence on certain tax categories such as VAT.
