Govt asks for E-comm comments in 15 days

Categories: Articles
No Comments

Govt asks for E-comm comments in 15 days

The Centre and States have moved a step closer to resolving the nagging questions over regulation and taxation of the flourishing e-commerce industry.

At a meeting with her counterparts in States convened by Union commerce and industry minister Nirmala Sitharaman here on Wednesday, States were asked to give suggestions within 15 days to bring clarity on all the sticky issues and also on a proposal to allow foreign investment in business-to-consumer (B2C) e-tailing and in multi-brand retail trade (MBRT).

There is a confusion over whether the e-commerce trade is in the domain of the Centre or in that of the State Governments. This is because in the marketplace model, which as per home-grown e-commerce firms is what they have adopted, the e-tailer just creates an online platform to help connect buyers and sellers.

While there is ambiguity about whether the online companies are following a marketplace model or an inventory model, some are of the view that the Information Technology Act, which is under the Centre’s purview, is what should be governing the e-commerce trade.

“We are open to e-commerce and FDI but such a policy should benefit the small shopkeepers, small businesses/vendors and consumers. Tax issues will not be a problem once GST is introduced but the Congress is creating hurdles in that. Traders want GST as they know that this will help them,” Punjab industry and commerce minister Madan Mohan Mittal said.

Read more:

http://www.financialexpress.com/article/economy/govt-asks-for-e-comm-comments-in-15-days/101842/

 

Hope the information will assist you in your Professional endeavours. In case of any query/ information, please do not hesitate to write back to us.

Thanks & Best Regards.

Bimal Jain
FCA, FCS, LLB, B.Com (Hons)
 
Delhi:
Flat No. 34B, Ground Floor, Pocket – 1,
Mayur Vihar, Phase – I,
Delhi – 110091, India
Desktel: +91-11-22757595/ 42427056
Mobile: +91 9810604563
 
Chandigarh:
H. No. 908, Sector 12-A,
Panchkula, Haryana – 134115
 
Kolkata:
Ist Floor, 10 R G Kar Road
Shyambazar, Kolkata – 700 004

 

Email: bimaljain@hotmail.com
Web: www.a2ztaxcorp.com
 
LinkedIn: https://in.linkedin.com/pub/bimal-jain/14/601/4b4
Face book: http://facebook.com/bimal.jain.90
Twitter: https://twitter.com/JainTax
YouTube: https://www.youtube.com/channel/UCp0tT5ShjB4KHJRSlPc3t5w 

 

Disclaimer: The contents of this document are solely for informational purpose. It does not constitute professional advice or recommendation of firm. Neither the authors nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this document nor for any actions taken in reliance thereon.

Readers are advised to consult the professional for understanding applicability of this newsletter in the respective scenarios. While due care has been taken in preparing this document, the existence of mistakes and omissions herein is not ruled out. No part of this document should be distributed or copied (except for personal, non-commercial use) without our written permission.

 

 

CLOSE
CLOSE