‘India requires took at Chinese e-commerce for reliable tax and incorporating rural economy’

According to one financial expert, the Indian federal government must be taking a look at China’s e-commerce design for motivation instead of the American one. Arun Kumar, speaking at a book launch in Delhi, stated that “India requires to follow the Chinese design of e-commerce. They were carried out in the context of their culture. It assisted get in touch with the rural economy and little suppliers. We are following the United States (American) design”. Kumar mentioned the example of Taobao, a Chinese online shopping platform headquartered in Hangzhou and owned by Alibaba. He was speaking at the launch of ‘E-commerce and GST in India’ composed by economic expert Astha Ahuja, who is an Assistant Professor in the Department of Economics, Aryabhatta College, University of Delhi. “When I composed this book (E-commerce and GST in India), there was no book offered on the topic (e-commerce). Now, if somebody desires to research study this topic, he or she will have the referral,” Ahuja stated at the launch. Ahuja likewise highlighted the difficulties of taxing deals of foreign e-commerce websites or e-marketplaces where products or services are not provided physically. She pointed out an example of purchasing music by an Indian client from a foreign e-marketplace and paying online for that. There is problem in taxing these deals as the foreign e-marketplaces do not have a long-term facility here, Ahuja included. “Since e-commerce goes beyond nationwide limits, there are difficulties as the seller and purchaser come from various tax jurisdictions. Require to think about which tax concept to be used,” she stated. With inputs from PTI. (Catch all business News, Breaking News Events and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily Market Updates & Live Business News.
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