BANGALORE: E-traders are trending in with the amazing offers and attractive varieties of products. The consumers are increasing for these online shopping sites day by day. In the current scenario some of the state governments have asked the e-traders to provide the monthly sales data for vendors registered on their platform, reports The Economic Times.
The trouble will be caused on the tax front for e-commerce companies such as Flipkart, Amazon and Ebay. Delhi, Uttar Pradesh and Kerala are initiating the new disclosure norms, likely adding the complexity and cost of the e-commerce. More states are expected to follow these norms in near future. Although invoices of purchase through online market shows the tax details, the governments are looking forward to make sure that there is no evasion of levies through a complex web of delivery structure.
E-commerce is one of the fastest growing markets in the country, thus state governments does not want to lose out any of the revenue and are there for seeking to ensure they get what’s due to them. These three States have already set up a group under the aegis of the empowered panel of state finance ministers on the goods and services tax (GST); this will is likely to be implemented on April 1 next year. The measures undertaken by the three states set the stage for taxation under GST.
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