Just In
- 12 hrs ago Elon Musk’s X Is Launching a TV App Similar to YouTube for Watching Videos
- 13 hrs ago Qualcomm Reveals Snapdragon X Plus Chip for Laptops: 10 Core CPU, On-Device AI, & Much More
- 14 hrs ago Flipkart Teases “Jaw-Dropping” Discount on iPhone 15: All-Time Low Price Anticipated
- 14 hrs ago President Joe Biden Signs Bill to Ban TikTok in the US: Unless This One Condition is Met
Don't Miss
- Movies Pavi Caretaker Box Office Collection Day 1 Prediction: Dileep's Movie Expected To Open Strongly
- Sports Who Won Yesterday's IPL Match 41? SRH vs RCB, IPL 2024 on April 25: Royal Challengers Bangalore End Losing Streak
- Finance Bajaj Group Stock Declares Rs. 60/Share Dividend: Buy Ahead of Record Date On 28 June?
- News MEA Dismisses US Human Rights Report On Manipur As 'Biased And Misinformed'
- Automobiles Royal Enfield Unveils Revolutionary Rentals & Tours Service: Check Out All Details Here
- Education AICTE introduces career portal for 3 million students, offering fully-sponsored trip to Silicon Valley
- Lifestyle Heeramandi Screening: Alia Bhatt, Ananya Panday, Rashmika Mandanna And Others Serve Finest Ethnic Style!
- Travel Escape to Kalimpong, Gangtok, and Darjeeling with IRCTC's Tour Package; Check Itinerary
Mandatory for e-commerce firms to submit transaction details
Delhi Government today made it mandatory for all e-commerce companies to file their transaction details on the website of the Department of Trade And Taxes while paying tax, after cases of tax evasion by some firms were spotted.
The move is aimed at regulating all dealers and sellers engaged in selling of goods through online portals. The Trade and Tax Department has made it mandatory for them to deposit their due tax, along with their transaction details.
SEE ALSO: IFA 2015 Day 2 Wrap-up: Top Gadgets to check
"In the financial year 2014-15, it came to our notice that some e-commerce companies selling goods through online portals were not depositing their due tax that they owe to the department. They used to collect tax from the consumers but did not deposit the money with government," a senior official said.
As e-commerce is an emerging and fast growing sector, the department felt it imperative to regulate these dealers so as to bring them under the ambit of VAT. In order to clarify the process of tax collection, the Trade and Tax Department last week convened a meeting with representatives of e-commerce web-portals and addressed their issues, the official said.
SEE ALSO: Sony Xperia Z5 vs Top 10 latest smartphones
E-commerce companies now have to log on to government website -- www.dvat.gov.in -- to enroll and pay their taxes. "Non-compliance of the notification shall be treated as violation, which attracts penalty of Rs 50,000, under section 86(14) of Delhi Value Added Tax Act, 2004," the official added.
Source PTI
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
11,999
-
16,026
-
14,248
-
14,466
-
26,634
-
18,800
-
62,425
-
1,15,909
-
93,635
-
75,804