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The price of gold has dropped by Rs 800 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 253, 300 per tola today.  It was traded at Rs 254, 100 per tola on Wednesday.

Similarly, the silver is being traded at Rs 3, 625 per tola.

The Nepal Stock Exchange (NEPSE) plunged by 13. 52 points to close at 2, 631. 17 points on Wednesday. 

Similarly, the sensitive index dropped by 3. 03 points to close at 450. 96 points.

A total of 10,873,372-unit shares of 332 companies were traded for Rs 5. 23 billion.

Meanwhile, Sagar Distillery Limited (SAGAR), Mithila LaghuBitta Bittiya Sanstha Limited (MLBBL) and Jhapa Energy Limited (JHAPA) were the top gainers today with their price surging by 10. 00 percent.
Likewise,  Samling Power Company Limited (SPC) was the top loser as its price fell by 2. 85 percent.

At the end of the day, the total market capitalization stood at Rs 1. 49 trillion.

It has been found that chimney-based brick manufacturers, who have arbitrarily raised prices at the expense of consumers, are also evading Value Added Tax (VAT). Although the brick manufacturers’ syndicate has significantly increased brick prices, they are underpaying VAT to the state. While first-class bricks are being sold in the market for Rs 19 per piece, manufacturers are paying only Rs 10.61 to Rs 12 per piece in VAT, as shown in their issued bills.

Despite selling bricks at a uniform market rate, manufacturers have been recording lower rates in VAT bills to evade revenue. Before selling bricks, they are legally required to issue a Vehicle and Consignment Tracking System (VCTS) bill along with a mandatory VAT invoice. However, many manufacturers are violating the law by issuing invoices that omit VAT and PAN details altogether.

Selema Brick Industry (SBI) in Kachanakabal Rural Municipality-5, Pathamari, has been found selling bricks using a challan bill. The SBI challan includes the seller’s name, address, brick quantity and vehicle number but does not mention VAT, PAN, or even the price of the bricks.

According to Gopal Bahadur Thapa, Chief Tax Officer at the Internal Revenue Office, Jhapa, challan bills may only be used to transfer goods from the industry to a warehouse—not for direct sales. “Since the brick industry is registered for VAT, it is mandatory to issue a VAT bill,” he said.

Similarly, Jyoti Brick Industry in Kachanakabal-7, Baluwadi, has been issuing VAT bills reflecting a rate of only Rs 10.61 per first-class brick, even though traders confirm that market prices stand at Rs 19. Based on this, industrialists appear to be evading VAT by Rs 8 to Rs 8.39 per brick. Jhapa Star Brick Industry in Kachanakabal-5 has also been deducting VAT at the rate of Rs 8 per piece for second-grade and picket bricks, even though these varieties sell for Rs 11 to Rs 14 in the market. VAT evasion appears consistent across categories.

Manufacturers are also required to use the VCTS when issuing VAT bills. However, many brick factories in Jhapa—including SBI, Jyoti, Star, and Prem—have not been doing so. Chief Tax Officer Thapa emphasized that VCTS is essential to curb VAT invoice fraud. “VAT billing alone is not enough. Without VCTS, it is also revenue fraud,” he said.

Under the Value Added Tax Act, 1995, issuing incorrect bills, under-billing, or failing to issue bills is punishable. If under-billing is proven to be intentional, it constitutes tax fraud and carries penalties including a fine equal to the evaded tax and up to six months’ imprisonment. Violation of VCTS requirements carries fines of Rs 50,000 for the first offense and Rs 75,000 for the second.

Chief Tax Officer Thapa noted that tax evasion has increased in recent years due to low consumer awareness. “If consumers demanded bills, tax evasion would decrease—even partially,” he said. He added that consumers can file complaints with the Revenue Investigation Department or the Internal Revenue Service if industries refuse to issue bills.

According to the Cottage and Small Industries Office, Jhapa, 24 chimney brick factories operate in the district. Three to four months ago, a tractor (1,500 bricks), including transportation, cost Rs 20,000 to Rs 22,000. However, the manufacturers’ syndicate has now raised the price to Rs 30,000. Despite the surge in prices and black-market sales, inspections have not taken place. Pushpalata Upreti, head of the Cottage and Small Industries Office, Jhapa, said the office has not been able to monitor industries due to the GenZ movement’s impact and limited resources.

The Birgunj Customs Office has collected Rs 22.9 billion from the imports of five different kinds of petroleum products in the first four months of the current fiscal year and Rs 10.1 billion from the imports of vehicles and auto spares during the same period.

The Office also collected Rs 4.58 billion from the imports of iron and iron-made products, Rs 4.25 billion from garments and Rs 3.17 billion from the imports of machinery and their parts.

Likewise, Rs 3.07 billion revenue was collected from the imports of electric machinery, equipment and their parts during the review period.

The Office stated that goods worth Rs 284.89 billion were imported in the first four months of the current fiscal year and the Office collected Rs 75.59 billion in revenue during the review period of the current fiscal year.