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Kaushal Shrivastava, the chief of central board of excise and customs (CBEC) on Wednesday said at a confederation of Indian industries (CII) taxation summit that there is a need to deepen understanding of taxing the e-commerce space.
As per the ministry sources the lack of a differential taxation treatment for the web based industry is leading to a loss of revenue.
The government is likely to workout a model around taxing them even without a physical presence as internet crosses boundaries. The current direct and indirect taxation has a basic requirement of a physical presence.
