Home / Knowledge / News / Textiles / E-commerce firms need to file monthly statements: CBEC
E-commerce firms need to file monthly statements: CBEC
17
Aug '17
Courtesy: CBEC
Courtesy: CBEC
India’s Central Board of Excise and Customs (CBEC) has clarified that an e-commerce operator (ECO) is required to electronically furnish a monthly statement with details of outward supplies of goods or services, including the supplies returned through it and the amount collected by it as tax collected at source, within ten days after the month ends.

In a frequently asked questions (FAQ) document on e-commerce issues released on its website recently, the CBEC said that the ECO is also required to file an annual statement by December 31 following the end of the financial year in which the tax was collected.

Explaining the concept of matching in e-commerce provisions, the CBEC said the details of supplies furnished by every ECO in its monthly statement will be matched with the corresponding details of outward supplies furnished by the concerned supplier. Where the details of both do not match, the discrepancy will be communicated to both sides.

Moreover, any officer of the rank of Deputy Commissioner or above may issue a notice to an ECO to furnish stock-supply details within 15 days.

A single facility or address can be used by multiple ECOs and sellers to store goods or conduct business provided they furnish the requisite documents. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Vietnam’s textile & garment exports cross $26 bn till Nov

Textiles | On 18th Dec 2017

Vietnam’s textile & garment exports cross $26 bn till Nov

Vietnam earned $26.844 billion from textile and garment exports in...

Rotex Fabrics grows production with Bruckner stenters

Textiles | On 18th Dec 2017

Rotex Fabrics grows production with Bruckner stenters

The South African company, Rotex Fabrics, which is a knitter, dyer,...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search