Brands
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Youtstory

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

YSTV

ADVERTISEMENT
Advertise with us

Delhi govt makes it mandatory for e-commerce firms to submit transaction details

Delhi govt makes it mandatory for e-commerce firms to submit transaction details

Monday September 07, 2015 , 2 min Read

Delhi Government made it mandatory for all e-commerce companies to file their transaction details on the website of the Department of Trade And Taxes while paying tax, after cases of tax evasion by some firms were spotted. The move is aimed at regulating all dealers and sellers engaged in selling of goods through online portals. The Trade and Tax Department has made it mandatory for them to deposit their due tax, along with their transaction details.


yourstory-e-commerce

"In the financial year 2014-15, it came to our notice that some e-commerce companies selling goods through online portals were not depositing their due tax that they owe to the department. They used to collect tax from the consumers but did not deposit the money with government", a senior official said. As e-commerce is an emerging and fast growing sector, the department felt it imperative to regulate these dealers so as to bring them under the ambit of VAT.

In order to clarify the process of tax collection, the Trade and Tax Department last week convened a meeting with representatives of e-commerce web portals and addressed their issues, the official said. E-commerce companies now have to log on to government website - www.dvat.gov.in - to enroll and pay their taxes. "Non compliance of the notification shall be treated as violation, which attracts penalty of Rs 50,000, under section 86(14) of Delhi Value Added Tax Act, 2004", the official added.

Image Credit: Shutterstock


Read More:

For dummies: the whys and the whats of hyperlocal e-commerce platforms

Cash-rich e-commerce logistics companies target India’s heartland for growth

E-commerce giants’ push to achieve GMV numbers makes them dig out entrepreneurs in Tier II and III cities