Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Centre Cracks Whip on Chinese e-commerce Platforms

The Department for Promotion of Industry and Internal Trade (DPIIT) had written to all the ports across the country to keep a tab on the goods imported and check whether they actually are 'gifts' as claimed by the online platforms.

IANS

Updated:April 6, 2019, 10:37 PM IST
facebookTwitterskypewhatsapp
Centre Cracks Whip on Chinese e-commerce Platforms
Image for representation only.
Loading...

New Delhi: The government has started cracking down on purchases made on Chinese e-commerce platforms which evaded goods and services tax and customs duty, sources said.

The IT and customs officials are already keeping an eye on such movements of goods and transactions and now post offices and other courier service providers would also monitor such dubious movements, sources said.

Recently, the government also made it mandatory for the Chinese e-commerce portals to register in India.

The Department for Promotion of Industry and Internal Trade (DPIIT) had written to all the ports across the country to keep a tab on the goods imported and check whether they actually are "gifts" as claimed by the online platforms.

Gifts received by Indians from a foreign country worth up to Rs 5,000 do not attract any taxes. Market sources said the Chinese retailers such as Club Factory, AliExpress and Shein using the law to bypass mandated taxes.

Government sources said the such tax-evading purchases from Chinese online players amounted to 2 lakh orders, before steps taken by the authorities brought it down to 1.20 lakh units.

The Centre in the past few months has made several changes in the country's e-commerce policies, and tried to provide a level-playing field to the Indian players, including changes in the FDI policy.​

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Indiabulls Hsg 547.65 -0.56
Yes Bank 77.05 -3.02
Reliance 1,291.10 1.03
HDFC Life 541.60 0.27
Axis Bank 688.85 1.95
Company Price Change %Gain
IndiGrid InvIT 86.55 -1.54
Indiabulls Hsg 548.05 -0.55
Yes Bank 77.00 -3.08
Reliance 1,291.50 1.10
Spandana Sphoor 842.65 -1.56
Top Gainers
Company Price Change %Gain
Bharti Infratel 257.85 3.47
Sun Pharma 426.45 2.83
Axis Bank 688.85 1.95
Larsen 1,359.25 1.80
ICICI Bank 426.65 1.84
Company Price Change %Gain
Sun Pharma 426.50 2.83
Larsen 1,359.85 1.87
Axis Bank 688.40 1.90
ICICI Bank 426.60 1.78
NTPC 119.45 1.36
Top Losers
Company Price Change %Gain
Yes Bank 77.05 -3.02
Power Grid Corp 207.05 -1.94
Grasim 751.95 -0.04
UPL 538.75 -1.88
GAIL 127.70 -1.50
Company Price Change %Gain
Yes Bank 77.00 -3.08
Power Grid Corp 207.05 -1.99
ONGC 127.15 -0.78
SBI 289.10 -0.64
Tata Steel 360.65 -0.61

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results