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Indian govt may issue clarity on ecommerce retailing
Oct '14
The Government of India is looking into the concerns of traditional retail players and if required issue more clarity on ecommerce retail business in the country, Commerce and Industry Minister Nirmala Sitharaman has said.
Talking to reporters, Ms. Sitharaman, who is also the Minister of State for Finance and Corporate Affairs, said, “Now there are many complaints. We will study the matter... Whether there is a need for a separate policy or some kind of clarification is needed, we will make it clear soon.”
The Minister’s statement has come after complaints received from traditional retail players following e-tailer Flipkart’s ‘Big Billion Day’ sale on October 6, which attracted 1.5 million visitors on the shopping portal. The sale resulted in sale of products valued at more than Rs. 6 billion in just 10 hours time, according to Flipkart.
The Confederation of All India Traders (CAIT) has sought a probe into the business model and trade practices of e-tailing companies to find out how these companies are offering big discounts. The body has urged the Ministry of Commerce and Industry to take steps to monitor and regulate online businesses in the country.
In February last year, Flipkart had shifted to marketplace model allowing third-party vendors to sell their products.
Meanwhile, the commercial taxes department of Tamil Nadu has issued a statement which says ecommerce retailers “are warned of prosecution under Section 71 of Tamil Nadu Value Added Tax (VAT) Act 2006.” (RKS)

Fibre2fashion News Desk - India

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