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Set up panel to look into allegations against Flipkart: CAIT to govt

In a statement, CAIT has levelled several allegations against Flipkart which include circumventing the law, causing huge GST and Income Tax revenue loss to the governmen, bypassing the FDI policy

Press Trust of India  |  New Delhi 


Traders' body on Thursday asked the government to set up ahigh-level committee to look into alleged circumvention of regulations by Flipkart, an allegation the company rejected.

In a statement, the Confederation of All India Traders (CAIT) has levelled several allegations against which include "circumventing the law, causing huge GST and Income Tax revenue loss to the government, gross manipulations for controlling inventory, bypassing the policy".

A spokesperson,however, rejected the allegations saying"We are fully compliant with the governing and all other applicable laws in the country. We have always been deeply committed to doing business in the right way".

"As a marketplace, we enable lakhs of sellers and artisansto connect with millions of consumers across the country.We're proud of our work to make these sellers and artisans successful and help in economic growth and job creation in India," the spokesperson added.

In a letter to Commerce & Industry Minister Piyush Goyal, the traders' body claimed: "It is an open and shut case for distorting Indian retail market to a large extent and damaging the basic fundamental principles of business and economy".

"Under the circumstances, we strongly urge you that as a first-step order for the closure of the e-commerce business and constitute a high level committee of tax experts, chartered accountants and senior officials of the Government to make an in depth study of the balance sheet, income and expenditure account of the Flipkart, its parent company and other associate or relatedcompanies in a time bound manner".

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, November 07 2019. 19:35 IST