Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

The GST bill and the ecommerce sector

Saheli Sen Gupta | Aug. 8, 2016
Now that the GST bill has finally been passed by the Rajya Sabha, analysts speak on what it means for the ecommerce sector.

According to Wadhwa, the GST law binds ecommerce operators w it h undue compliance burden like registration, reporting and reconciliation. In add it ion, companies might also have to furnish information relating to supplies as well as stock of goods held.  He said, "Such information would have to be furnished w it hin five working days of service of notice. Considering the volume of transactions undertaken daily, it may not be sufficient to furnish such information, specifically where there is no scope for extension of such time lim it ."

Wadhwa also mused upon the unaddressed issues in the Bill like that of sales returns. While the tax would already be depos it ed at the destination state at the time of in it ial payment, there is no provision for reversal or adjustment for it .

"Undoubtedly GST is the much awa it ed indirect tax reform in India. However, the Model GST law seems to suggest that this would bring in hectic times for the business es, specially, the e-commerce sector," he added.

Source: CIO


Previous Page  1  2 

Sign up for Computerworld eNewsletters.