Page 3 - E-commerce Sellers

CBDT clarifies applicability of TDS liability for e-retailers on ONDC

The income tax department on Thursday clarified the applicability of TDS liability of e-retailers trading through the government's ONDC initiative. As per the FAQ issued by the Central Board of Direct Taxes (CBDT), a 1 per cent TDS will have to be deducted from the gross sale amount after including convenience/ packaging/shipping fees as charged by e-commerce trading platforms for the order placed on ONDC. As ONDC or Open Network for Digital Commerce is a new initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), the CBDT had received representations seeking clarity on who should be liable for Tax Deducted at Source (TDS) compliance under I-T laws. Under the law, every e-commerce operator is required to deduct TDS at the rate of 1 per cent of the sales amount of goods/services sold through its platform. The CBDT has clarified that in a situation where multiple e-commerce operators (ECOs) are involved in a single transaction through the ECO platform, the

Govt constitutes committee to draft safety pledge for e-comm platforms

The government has constituted a committee to draft the safety pledge for e-commerce platforms as it seeks to prevent the sale of unsafe goods to consumers through online marketplaces. The panel, which includes members from major e-commerce platforms, voluntary consumer associations, industry bodies and National Law Universities, will submit its report in two weeks. According to an official statement on Thursday, the Department of Consumer Affairs held a stakeholder consultation on preparation for a 'Safety Pledge' for e-commerce platforms. The exercise is aimed at ensuring the sale of goods which are safe for use by consumers and requires platforms to take appropriate measures to prevent the sale of unsafe goods. The meeting was chaired by Rohit Kumar Singh, Secretary, Department of Consumer Affairs and was attended by representatives from industry associations, major e-commerce platforms, voluntary consumer associations and law chairs. "The Department has constituted a committee

Majority of Indians check sellers' rating online before ordering: Report

A majority of adults check for a seller's rating online and assess a company's social media presence for authenticity before making a purchase, according to a study conducted just before the festivals. The Norton Cyber Safety Insights report, which was released on Thursday, surveyed 1,000 adults during August and September. According to the survey, about 96 per cent of the consumers geared up for pent-up purchases online during the festive season. As many as 88 per cent of adults check for a seller's rating online, while 82 per cent assess a company's social media presence for authenticity, the survey noted. The survey further revealed that the average amount lost to holiday shopping scams is over Rs 20,000. To curb this, 73 per cent of those surveyed said they preferred to make payments through third-party providers like PayPal. "With most consumers planning to shop online, it's imperative that we stay vigilant and prioritise security. The digital landscape offers fantastic deal

Improving signals for Avenue Supermarts with strong Ebitda, PBT growth

Consensus target price of analysts indicates limited upside; rebound in general merchandise and apparels crucial for margin gains

700K gig roles to be created for ongoing festival season this year

The increased job openings are primarily being fuelled by the flagship sale events hosted by e-commerce platforms

E-tailing in India is expected to grow 5x to $300 bn by 2030: Redseer

There is expected to be 6 to 8-fold growth in 3PL (third-party logistics) shipments between 2022 and 2030 - from 2 billion in 2022 to an estimated 13-17 billion in 2030, according to Redseer report

Flipkart unveils VIP subscription programme ahead of the festive season

Flipkart is taking on Amazon by introducing a paid subscription service primarily aimed at shoppers in top cities.

Online sales this festive season to be 15% higher than last year: Redseer

Sellers are also planning to spend more on marketing and advertising on e-commerce platforms this festive season to drive sales, as compared to last year

Amazon launches Multi-Channel Fulfilment for sellers and brands in India

Amazon's logistics capabilities to handle customer orders received from a wide range of sales channels, including their own websites, enabling seamless fulfilment with speed and convenience

How to start a business with Amazon India? Here's the complete detail

Amazon is India's most visited e-commerce application, and one of the most liked selling platforms for sellers. Here's your guide to sell your product on Amazon India

Amazon is imposing fee on sellers who don't use its logistics services

The company didn't explain to sellers why the levy was required, but said in a report that it will help cover the costs of running a separate infrastructure and measuring its effectiveness

Independence Day sales: E-tailers are all smiles after 23% surge in orders

Customers explored offers on millions of products and shop from a wide selection

Paytm e-comm partners with NCCF, ONDC to sell tomatoes at Rs 70/kg in Delhi

Paytm E-commerce Pvt Ltd (PEPL) on Tuesday said it has partnered with ONDC and NCCF to sell tomatoes at Rs 70 per kg in Delhi-NCR. On behalf of the central government, co-operatives National Cooperative Consumers Federation (NCCF) and NAFED are already selling tomatoes at Rs 70 per kg to retail consumers through mobile vans in Delhi-NCR and a few select cities. In a statement, PEPL said it will sell "tomatoes (at) Rs 70 per kilogram through National Cooperative Consumers Federation (NCCF) for users in Delhi-NCR on Paytm ONDC." With this, users can only buy two kgs of tomatoes at Rs 140 per week with free delivery through ONDC on the Paytm app. This move will benefit the users as retail prices of tomatoes in some cities have crossed Rs 200 per kg, the statement said. The company spokesperson said, "The rising prices of a kitchen essential like tomato has been affecting many across the country. With this collaboration between NCCF and ONDC, our users in Delhi-NCR can now easily get

E-commerce operators face problem in GST drive to check fake registration

The pan-India drive against fake GST registration has created problems for e-commerce companies which maintain virtual offices in various states with minimal staff and no books of accounts. Talking to PTI, MakeMyTrip Group Vice President -Taxation Tajinder Singh said that the GST officials should enquire with the head offices with regard to virtual offices before categorising the state registration as a fake entity for non-production of books of accounts. "We maintain virtual offices in states ...in this fake registration drive the field offices have mistook these offices as fake registration, however we were only using these offices for tax payment, there was no ITC flow or fraud being committed using those registration. Because of this, lot of registration were blocked for compliance purpose and that created problems for us," Singh said. Centre and state GST authorities have on May 16 launched a two-month drive to check fake registration under Goods and Services Tax (GST). The fak

Sequoia Capital sells entire 10.18% stake in Go Fashion for Rs 625 cr

Venture capital company Sequoia Capital on Monday divested its entire 10.18 per cent stake in Go Fashion for Rs 625 crore through an open market transaction. US-based Sequoia Capital through its affiliate Sequoia Capital India Investments IV offloaded the shares in Go Fashion (India). Societe Generale, Kuwait Investment Authority Fund 223, ICICI Prudential Life Insurance Company and BNP Paribas Arbitrage were the buyers of the shares. Sequoia Capital India Investments IV sold 54,98,875 shares at an average price of Rs 1,136.10 apiece, taking the transaction value to Rs 624.72 crore, as per the bulk deal data available on the National Stock Exchange (NSE). As of the March quarter, Sequoia held nearly 55 lakh shares, equivalent to a 10.18 per cent stake in the Chennai-based firm. Go Fashion (India) was listed on BSE and NSE in November 2021, after it successfully launched Rs 1,013.6-crore initial public offering (IPO). On Monday, shares of Go Fashion (India) plunged 4.86 per cent t

E-commerce sector to grow 1000%, emissions 8mn tonnes by 2030: Report

This heightened activity will contribute to a total emission of 16 crore tons of CO2 in the next 8 years, or equal to 400 gas-fired power plants

EU proposes reforming customs to target online sellers like Amazon, Alibaba

The European Commission's proposal would introduce data-driven systems, streamlining reporting requirements for traders by reducing the time needed to complete import procedures

Biz activity for Shopify's Indian sellers up 9.8% to Rs 30,100 cr in 2022

Shopify has a total seller-base of 7.9 million registered Indian Micro, Small, and Medium Enterprises (MSMEs) on its platform

Razorpay launches payment reconciliation for buyers, sellers on ONDC

Razorpay is building its capabilities toward solving all things payments and business banking for over 10 million businesses, making it the go-to platform

How Snapdeal is creating focused brands to capture value e-commerce segment

Forms subsidiary to create such brands, is pivoting towards Bharat to reach value-conscious customers in tier-2 and beyond