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Companies are defrauding GST in the name of e-commerce festival sale

Amazon and Flipkart's 'Festival Sales' took place from today and is a complete violation of the government's FDI policy.

29th September, 2019

Finance Minister Nirmala Sitharaman has today submitted a memorandum by the Confederation of All India Traders (CAT). CAT has said that by imposing lower GST on sales in the festival sale started today by e-commerce companies, especially Amazon and Flipkart, the government is deprived of large revenue from GST.

Kat said apart from other e-commerce companies, Amazon and Flipkart's 'Festival Sales' took place from today and is a complete violation of the government's FDI policy. Kat says that if a businessman makes even a small mistake, he also faces penalties and lawsuits, while e-commerce companies that are authorized to do only Business to Business (B2B) activities, the government's nose Are selling directly to consumers (B2C) below and no action has been taken against them so far.

CAT National President BC Bhartia and National General Secretary Praveen Khandelwal drew the attention of the Finance Minister during the 'Festival Sale' period of these e-commerce companies for the sale of goods where the goods are getting very high and On which goods are being sold at a price lower than the actual price by giving a deep discount of 10% to 80% and GST is being charged on it, whereas GST of that item is The actual cost should be recovered, due to which the government is suffering a major loss of GST revenue.

Khandelwal said that it is an open fact that the huge discounts offered by these e-commerce companies are funded by their investors and there is no real loss to these companies, while in fact, the government is suffering a huge loss of revenue. is. GST should always be taken at the actual market value of the commodity, but the government is deprived of its proper revenue due to the open manipulation of these e-commerce companies. It is very surprising that these companies have been incurring losses for the past several years, but still, they are not only running their business but also from year to year, have been organizing festival cells and other cells and at a cost. They also sell goods at low prices, giving huge discounts through discounts. Can a cost-conscious company also sell in a company and trade crores of rupees, but still remain in loss. What kind of business model is this?

Kat says that merchants are not against the e-commerce business and strongly believes that e-commerce is the future of business in the country and that the merchants of the country are not afraid of any competition, but there should be healthy competition in the market, But for a long time, these companies have been openly violating FDI policy and the government has not been able to take any action against them even after knowing everything. CAT has urged the Finance Minister to order an inquiry into the business model of these companies and the element of tax avoidance.

Category: Business

Tags:
Amazon
Flipkart
GST
Festival Sale
e-commerce
CAT
Tax
FDI

Reported by:
Abhishek Roy