Section 38
Exemptions And Facilities To Association Or Society
(1) Notwithstanding anything contained in the prevailing law, the association or society shall be entitled to the following exemptions and facilities: (a) The association or society shall not be required to have registration pass of any instrument relating to its transaction, other than an instrument relating to immovable property. (b) No revenue stamp fee or registration fee shall be charged on a document or any kind of instrument related with the purchase and sale or exchange of an immovable property as carried out by the association or society. (c) ———– (d) No local tax shall be levied on the goods traded by the association or society.
(2) Government of Nepal may, by a notification in the Nepal Gazette and pursuant to the prevailing law, exempt fully or partly from chargeable customs tariff or sales tax such machineries, industrial and agro-machines, equipment, spare parts, raw materials, office equipment and means of transport as are imported by an association or society for its use.
(3) Government of Nepal may, by a notification in the Nepal Gazette and pursuant to the prevailing law, exempt fully or partly from chargeable excise duty or sales tax the goods produced by any association or society.
(4) An association or society doing industrial business shall also be entitled to such other exemptions, facilities and protection as the industries are entitled to pursuant to the law, in addition to the exemptions mentioned in Sub-sections (1), (2) and (3).
(2) Government of Nepal may, by a notification in the Nepal Gazette and pursuant to the prevailing law, exempt fully or partly from chargeable customs tariff or sales tax such machineries, industrial and agro-machines, equipment, spare parts, raw materials, office equipment and means of transport as are imported by an association or society for its use.
(3) Government of Nepal may, by a notification in the Nepal Gazette and pursuant to the prevailing law, exempt fully or partly from chargeable excise duty or sales tax the goods produced by any association or society.
(4) An association or society doing industrial business shall also be entitled to such other exemptions, facilities and protection as the industries are entitled to pursuant to the law, in addition to the exemptions mentioned in Sub-sections (1), (2) and (3).