Govt wants 'origin of products' displayed, calls e-commerce firms for meet

The Department for Promotion of Industry and Internal Trade (DPIIT) has called web based business majors, including Amazon, Flipkart, Snapdeal and Paytm, for a gathering on Wednesday to examine the 'showing root of the item' on these stages, as hostile to China conclusion gets in the nation.
This follows the Government e-Marketplace (GeM) stage making it obligatory for its recorded venders to indicate the nation of starting point while enrolling every single new item on the entrance.
The outskirt deadlock among India and China has started a crusade here that is picking up force to blacklist Chinese products.The meeting is being composed on a video conferencing stage, as indicated by individuals up to date.
Service authorities said that this issue has come up before and usage issues for e-commercial centers would be talked about at the gathering on Wednesday.
Among different invitees to the conversation are Pepperfry and The E-trade Council of India.
Online business officials said requesting that dealers top off data about 'nation of birthplace' for new postings of items isn't convoluted. In any case, the test is that the a large number of existing items previously recorded on the internet business stages don't have those subtleties and it would be a very "tedious" process for the venders to check the nation of birthplace for those items. Be that as it may, for certain items, this data is now accessible.

"On the off chance that a dealer has 10,000 postings, for him to experience all that and include information is a major errand," said a senior official at an internet business organization. "The expectation of the administration ought not be to discard those dealers off the stage, that would resemble 'slicing your nose to demonstrate hatred for someone (China) else," said the individual.

Over 7,000 cash-starved start-ups may benefit from angel tax relief

Companies News:

A series of changes made to the so-called angel tax by the government could give wing to 7,000 cash-starved start-ups, sources in the Department for Promotion of Industry and Internal Trade (DPIIT) said.

According to industry observers, an investment of around $12 billion might come from 2,000 angel investors and hundreds of smaller backers of start-ups by the end of the year. Of this, about $7 billion will come in the form of corporate investment.

After facing sustained pressure over the past three years from start-ups and venture capital funds over the tax, the government introduced changes in tax norms, giving in to most of the demands raised by the sector.

Providing a wider set of exemptions from the angel tax, the Centre allowed start-ups which have raised capital up to Rs 25 crore to claim tax benefits, as distinct from the earlier Rs 10 crore. It also gave a slew of waivers and a tweak in definition industry demanded.

Expecting big gains: DPIIT

According to officials at the DPIIT, around 6,700 firms of the 16,000 start-ups registered with the nodal agency will benefit from the changes in the angel tax over the next six months.

 “Around 7,000 firms will get immediate benefit. It would be many more over time. Many companies on our list have grown beyond just being start-ups and fall in the tax bracket,” an official from the DPIIT said...Read More

Walmart, Amazon shape online sellers lobby to fight new e-commerce rules

Companies News:

Hit by the latest e-commerce rules, American majors Walmart and Amazon are planning to pitch the sellers on their Indian platforms against the domestic lobby groups such as the Confederation of All India Traders (CAIT) and Swadeshi Jagran Manch (SJM), it is learnt.

The newly renamed Department for Promotion of Industry and Internal Trade (DPIIT) had last week clarified that there would be no extension to the February 1 deadline for e-commerce firms to comply with the conditions related to the FDI policy in the sector (known as Press Note 2), triggering panic among prominent online firms such as Amazon India and Walmart-owned Flipkart.

Since CAIT and SJM have been pushing the government for an e-commerce policy that keeps in mind the interests of traders, the foreign majors are trying to get their sellers together and put forward their cause. Since the two biggest e-commerce companies have been adversely affected by the new conditions in Press Note 2, they are arming themselves with a parallel lobby group represented by sellers ahead of a proposed e-commerce policy.

The financial hit


 DPIIT’s move to not extend the February 1 deadline has had an adverse affect on business as both Amazon India and Flipkart have had to cut down their number of sellers by as much as 30 per cent. They have had to slash sales in almost 60 categories involving 45 million products...Read More