The Confederation of All India Traders (CAIT), Gujarat has demanded a ban on e-trade as e-commerce portals are defying Foreign Direct Investment (FDI) norms and causing GST and Income Tax losses to the government.
The office bearers in the CAIT, Gujarat, led by President Pramod Bhagat have submitted a memorandum to the parliamentarians of Navsari and Surat mentioning their demand. Along with the ban, All India Traders Body is also demanding to set up an independent task force comprising of tax experts, economists and retail experts to investigate the matter.
The e-commerce entities still continue to sell goods at prices much below fair market prices with huge discounts and charge GST at much lower prices. This causes huge revenue losses to the government.
According to Bhagat, by selling at cheap rates, e-commerce companies are also making retailers across India suffer losses. “We demand immediate ban of e-commerce portals across the country in the wider interest of the vast base of retailers,” he states.