Introductions E-CommerceIndia has one of the world’s largest internetand smart phone users’ population. To cater to the needs of the technologydriven large number of consumers, the demand for the online buying and sellingof the goods and services is increasing. This has led to the increase in demandfor the various e-commerce sites.
E-Commerce is the process which involvesthe buying and selling of the goods and services online with the help ofinternet network.The demand for the online transactionsare increasing because of the advantages of initiation of transactions from anyconvenient locations supporting internet networks facilities round the clock,cash on delivery facilities, the availability of the various options of goodsand services on the various e-commercesites which suit the diverse needs of the various segments of the consumers. FlipkartFlipkart is an e-commerce multi brandretailing company which was founded in the year 2007 by duo Sachin Bansal andBinny Bansal.It is headquartered in Bangalore,Karnataka. It has also launched its own online product range by the name ofDigiFlip. It is registered at Singapore.Flipkart sells its good in India througha company named WS Retail because the multi-brand e-retailing activitiesundertaken by foreign companies are prohibited in India.
Goodsand Services Tax (GST)Goods and services tax came in force inIndia from 1st July, 2017. It is a form of indirect tax which islevied on manufacture, sale and consumption of goods and services. It willreplace all the indirect tax levied at centre and state level. It will replacecentral excise duties, custom duties and service tax at the centre level andwill replace the state VAT at the state level.It is applicable to the whole of Indiaexcept Jammu And Kashmir State. Goods refer to every type of movableproperties but do not include money and securities.
Copyrights and trademarksare also included in the definition of goods.It excludes central tax, state tax,union territory tax, integrated tax and cess.GST has bought many changes such aspayment of tax on a monthly basis, increase in the number of GST returns. Itwould also pose challenges for the small and new taxpayers as they would face theburden of complying with a lot of changes.