Quick answer: Nepal’s fiscal year runs from Shrawan 1 to Ashad end in the Bikram Sambat calendar — roughly mid-July to mid-July in the Gregorian calendar. The current fiscal year, FY 2083/84, began on Shrawan 1, 2083 (July 2026) and ends on Ashad 31, 2084 (July 2027). It is not the same thing as Nepali New Year: the calendar year starts in Baisakh (April), but the government’s financial year starts three months later, in Shrawan.
Fiscal year vs Nepali New Year — the confusion, settled
Two different clocks are running:
| Starts | Used for | |
|---|---|---|
| Calendar year (Naya Barsha) | Baisakh 1 (mid-April) | Festivals, everyday dates, “what year is it” |
| Fiscal year (Aarthik Barsha) | Shrawan 1 (mid-July) | Budgets, taxes, VAT returns, audits, company accounts |
So “FY 2083/84” means the financial year that starts in Shrawan of BS 2083 and ends in Ashad of BS 2084 — it straddles two calendar years, which is why it is always written with both. Every tax obligation in Nepal — income tax slabs, VAT periods, TDS deposits, audit deadlines — keys off this fiscal year, not the calendar year.
Why does it start in Shrawan?
The government presents its budget toward the end of Jestha (late May–June), parliament passes the Finance Act, and the new rates take effect from Shrawan 1. That sequencing is why tax rules — like the income tax slabs — change at mid-July rather than in January or April, and why your accounting software must close one year and open the next at Shrawan, not at New Year.
Recent fiscal years at a glance
| Fiscal year (BS) | Starts (BS) | Ends (BS) | Approx. Gregorian span |
|---|---|---|---|
| FY 2081/82 | Shrawan 1, 2081 | Ashad end, 2082 | Jul 2024 – Jul 2025 |
| FY 2082/83 | Shrawan 1, 2082 | Ashad end, 2083 | Jul 2025 – Jul 2026 |
| FY 2083/84 (current) | Shrawan 1, 2083 | Ashad end, 2084 | Jul 2026 – Jul 2027 |
| FY 2084/85 | Shrawan 1, 2084 | Ashad end, 2085 | Jul 2027 – Jul 2028 |
What the fiscal year controls in your business
- Invoice numbering: IRD-compliant bill numbers restart each fiscal year (e.g. an
83-84series) — a bill can only be posted into the active FY. - Tax rates: each Finance Act applies from Shrawan 1 — payroll TDS, VAT rules and fees can all change at the boundary.
- Year-end close: books are closed at Ashad end; profit transfers to retained earnings and the audit cycle begins.
- Comparatives: “last year” in any Nepali financial report means the previous Shrawan–Ashad span.
How software should handle it
Accounting software built for Nepal has to treat Bikram Sambat as the primary calendar, not a display skin: fiscal years defined Shrawan–Ashad, BS dates on vouchers with AD equivalents stored alongside, numbering series per FY, and a proper year-end close. That is how Udyot ERP works natively — see Nepal fiscal year & BS calendar in our documentation for the mechanics.
Common questions
When exactly does FY 2083/84 end?
On the last day of Ashad 2084 (mid-July 2027). Whether Ashad has 31 or 32 days that year is a calendar detail — the legal deadline is “Ashad end”, so work from the BS calendar.
Why do Nepali companies write years like 2083/84 instead of 2026?
Because the reporting year spans two BS years. Documents for the same period in AD terms would say 2026/27.
Does the VAT return follow the fiscal year too?
Yes — VAT periods (monthly or trimester) and their annexes are all defined within the fiscal year. See the VAT filing guide.