CAIT urges govt to probe business models of Amazon, Flipkart

New Delhi, Oct 29 (KNN) Traders' apex body Confederation of All India Traders (CAIT) has urged the government to probe the business model of e-commerce majors like Amazon and Flipkart, alleging that deep discounts on products were causing loss of Goods and Services Tax (GST) revenue to the central and state governments.

CAIT in a letter written to Finance Minister Nirmala Sitharaman has alleged Amazon and Flipkart of selling goods at much below the market value and denying the Government its due legitimate GST revenue.

''CAIT has urged the Finance Minister to institute a probe into this business model which is causing huge GST revenue losses to the government and recover the difference of GST between billed price and market value from the period of implementation of GST,” said CAIT Secretary General Praveen Khandelwal.

''As per the GST Act, the Government is allowed to determine the actual market value of the products if it appears that it is under billed,'' said the traders body.  CAIT has sent similar letters to Union Commerce Minister Piyush Goyal and Finance Ministers of all states.

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