Unless the subject or context requires otherwise, in this Act,-

(a) “tax” means value added tax levied under this Act.

(b) ) “business” means the act of supplying any goods or services.

(c) “taxable business” means the business referred to in sub-section (1) of section 5.

(d) "Taxable value" means the value determined in relation to any goods or services in accordance with section 12.

(e) "Goods" means both movable and immovable property.

(f) “Service” means anything other than goods.

(g) “Supply” means the sale, exchange, transfer of any goods or services for consideration or giving permission or (h) "Reward" means cash, goods, services or anything received for value. (j) "import" It means goods or services according to prevailing law Nepal ……………. It should mean the act of importing into Nepal. (k) "Market price" means the price determined according to section 13. (l) "Person" means any person, firm, company , association, organization, partnership, co-operative, joint venture, firm or fund and that term also refers to government bodies, religious organizations, charitable organizations or other similar bodies and their branches or sub-branches engaged in taxable transactions whether or not for profit. .

(d) “Registered person” means a person who is registered to do business in accordance with section 10.

(d) “Registration number” means a registered person assigned according to section (n) "Supplier" means a person who supplies any goods or services.

(k) "Recipient" means a person who receives any goods or services.

(th) "Taxpayer" means a person involved in taxable transactions(1) "Tax period" means the period in which the taxpayer must submit tax returns in accordance with section 18. (d) "Department" means the person responsible for tax administration It shall mean any department under the Ministry of Finance designated by the Government of Nepal. Tax officer appointed by the government, chief tax officer, chief tax administrator, director general or any other officer appointed by the Government of Nepal to exercise the powers of a tax officer in accordance with this Act. As prescribed" means prescribed or prescribed in the rules made under this Act.