The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur


  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Business

CAIT to demand finance minister to investigate GST avoidance by amazon & flipkart

by TLN Team February 17, 2020February 17, 2020
written by TLN Team February 17, 2020February 17, 2020
CAIT to demand finance minister to investigate GST avoidance by amazon & flipkart

The Confederation of All India Traders (CAIT) has reacted sharply on media reports that Amazon & Flipkart has pleaded the Government to roll back 1% TDS on e-commerce transactions proposed by Finance Minister Smt. Nirmala Sitharaman in Union Budget. ” It is most unfortunate that Industry Organisation like FICCI  instead of suggesting avenues for generation of more revenue, is lobbying for e commerce Companies who have been found indulging into unethical business practices not only in India but in other countries as well and advocating for reversal of 1% TDS on e commerce”-said Mr. Praveen Khandelwal,Secretary-General of the CAIT today.

Mr. B.C.Bhartia, National President of CAIT while strongly condemning the move said that proposed levy of 1% TDS on e commerce transactions is a right move of the Government not only for enhancement in tax revenue but also for streamlining the suspicious business being conducted on e-commerce platforms. Its a matter of fact that e commerce companies are involved in avoidance of GST Tax revenue by charging GST on artificially lowered prices instead of fair market value of the products being sold on their platforms and the transactions made on such platform are neither transparent nor generate actual tax revenue.

Both Mr. Bhartia & Mr. Khandelwal flayed the argument that it would cause irreparable loss to companies and will increase compliance burden. and it will be detrimental for small online sellers. ” These are filmsy arguments since TDS will be ultimately borne by the consumer and there will be no burden on either seller or e commerce platform. Whereas on the other hand when traders who are not so equipped with technology are complying the laws then how its a compliance burden for tech companies. Such arguments are nothing but an attempt to escape from the lenses of the Government and tax authorities.

Both Mr. Bhartia & Mr. Khandelwal said that levy of proposed 1% TDS is all the more necessary to generate subsequent revenue and the CAIT will ask the Union Finance Minister not to succumb to the pressure of e-commerce Companies. The CAIT will also ask the Government to ban Cash on Delivery (COD) on delivery of goods by e-commerce companies since its e platform and digital payments should be encouraged on such a platform to fulfill the vision of Prime Minister Modi for Digital India.

It is highly regretted that organisation like FICCI is indulging into irresponsible demand. FICCI has never uttered a single word on the issue of malpractices being conducted by e commerce companies on their e commerce portals. Supporting e-commerce companies that are already facing investigations not only in India but in other Countries as well of their business practices is highly deplorable and the CAIT strongly condemn such demand made by FICCI.

Both Mr. Bhartia & Mr. Khandelwal said that soon a delegation of CAIT will meet the Finance Minister Mrs. Nirmla Sitharaman to push for investigation for the avoidance of GST tax revenue by e-commerce companies particularly Amazon & Flipkart. We will submit evidence to the Finance Minister to substantiate our allegation-said the trade leaders.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
The Chanda Devi Saraf School hosted Inter – School karate Tournament
next post
Events Today

You may also like

Interaction Meeting with Ms Ebtesam Alkaabi, Head of...

September 20, 2023

Promoting Peace through Literature and Music- Eminent Scholars...

September 17, 2023

Industry meet on Sept 17

September 15, 2023

Loans for Maratha entrepreneurs available through Annasaheb Patil...

September 14, 2023

WCL and Vensar ink MoU for Walani underground...

September 12, 2023

VIA LEW Session on CRM – The Golden Pot...

September 11, 2023

Badjate Stock & Shares Pvt. Ltd. leads the...

August 30, 2023

Booking of Stalls for VIALEW 26th “Udyojika – An...

August 28, 2023

Rajesh Sarda elected as new president of Steel...

August 27, 2023

Char-Choughi Expo received good response

August 23, 2023

Trending News

  • 3 Idiots’ actor Akhil Mishra dies at 58, falls off building

    September 21, 2023
  • Adidas launches new jersey of team India for ICC World Cup 2023

    September 20, 2023
  • Asia Cup champions team India arrives in Mumbai in style, Watch Video

    September 18, 2023
  • Ind vs Sri Lanka: Will India end 5-year wait to lift Asia Cup trophy?

    September 17, 2023
  • Aircraft skids off Mumbai airport runway and breaks in 2 parts

    September 14, 2023

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us

© 2020 - The Live Nagpur . All Rights Reserved.