CAIT has claimed that e-commerce companies Amazon and Flipkart and others were selling goods much below their market value thus denying the Government of its due legitimate GST revenue
Confederation of All India Traders (CAIT) wrote to the Prime Minister after Walmart CEO Doug McMillon raised issues concerning data privacy and regulatory stability for the e-commerce sector
Traders' body CAIT on Sunday demanded a high-level enquiry by the Centre to probe the "unholy nexus" of e-commerce firms, companies owning brands and banks for causing price distortion in the country's e-commerce market. Praveen Khandelwal, Secretary General of the Confederation of All India Traders (CAIT) also urged Prime Minister Narendra Modi to constitute a Group of Ministers (GoM) to look into the alleged distortions, both in the e-commerce and brick & mortar format of retail. Union Minister Piyush Goyal had earlier this week said that the government was looking into alleged predatory pricing by Walmart-owned Flipkart and Amazon. In a statement, CAIT claimed that not only e-commerce firms like Amazon and Flipkart, but a large number of companies owning brands, particularly in mobile, FMCG, electronics, electrical appliances, footwear, garments and other sectors, and various banks are also responsible for distortion in prices of different products on online portals. "It is ...
The Friday meeting comes in quick succession after one round of meetings among the same stakeholders on Thursday
CAIT says there must be a govt audit of how e-commerce portals function, including the business done by sellers and their authenticity
Citing an example of new vehicle launches, CAIT said companies have received huge number of bookings, which do not reflect any slowdown in the sector
Its demand is unlikely to see government action before this year's sales kick off but it could help frame government policy on deep discounts
The biggest relief from the GST is that it has relived traders from continuous Inspector Rule and lot of burden of complying the taxation system and paper work, says CAIT National Secretary General