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Comments on : GST Bill gets support of more states


Draft GST Law NDA government has just released , DRAFT GST LAW , for consultations among stake-holders In the matter of " E-Commerce transactions " , the draft proposes : "..... a tax collection at source for E-Commerce companies " MINT ( 15 June 2016 ) interprets this as follows : " This means that any payment made to a supplier by an E-Commerce company will be subject to tax collected at source " In the matter of " Intangible and Works Contract to be classified as Services " , it says : " The law classifies intangibles such as software and works contract as Services " MY TAKE : A Commerce by any other name ( including " E Commerce " ) , is still sale of " Goods / Services " by a Seller , in exchange of " Value " , ( usually money - when that exchange is not a Barter Deal ) , received from the Buyer E - Commerce " is nothing more than " Commerce " , where such exchange of values , take place electronically , as opposed to physically . It still remains Commerce , even when perceptions differ Hence , regulations / controls / taxation etc that govern E-Commerce should , essentially remain the same as in case of Commerce Mere elimination of an intermediary ( Distributor / Wholesaler / Dealer / Agent / Stockist etc ) , from the " Supply Chain " , itself cannot be the determining criteria Take a look at the various parameters of " Commerce " outlined in my following blog of 15 Sept 2015 : -------------------------------------------------------------------------------------------------------------------------------- Not an easy task to define what is E Commerce ( and what is not ), considering all the possible permutations / combinations ( running into LAKHS of them ! ) , of the following elements : # NATURE * A physical " Product " ( Capital Goods / FMCG / Consumables / Perishables ) * A virtual " Service " ( Medical advice / Legal advice / Consultancy / Software etc ) # GEOGRAPHIC SPREAD * Across National boundaries ( International Trade ) * Across State boundaries ( within India ) * Across Municipal boundaries (within a State ) # SUPPLY- CHAIN / INTERMEDIARIES * Mfr > Distributor > Dealer > Retailer > Buyer * Mfr > Buyer * Any disintermediation in the above chain # ORDER PLACEMENT / ACCEPTANCE * In a physical location ( Shop / Store / Office / Factory / Home ) * In a virtual location (Web site/Mobile App/SMS/ Email / Phone / Video Conference ) # DELIVERY * Physically in a Shop / Store etc where Buyer collects / picks-up from shelf * Delivered to Buyer's location, thru Delivery Boy * Delivered to Buyer's location, using a Drone * Delivered to Buyer on his home-based 3D Printing Machine ( using internet ) # PAYMENT * Cash against delivery * Pre-paid / Post-paid Cheque * Credit / Debit Cards across counter * Credit / Debit Cards thru online Payment Gateways * Through Mobile Wallets * Electronic Bank Transfer * Using Virtual Currency like Bit-Coins * Barter of Goods or Services # FOREIGN INVESTMENTS * FDI in Manufacturing / Supply Chain / Payment Gateways - Apps- Mobile Wallets * FDI in Web sites like Amazon - Flipkart - Alibaba - Snapdeal etc ( What percentage ? ) Can you think of any other " Elements " that I have forgotten ? In any case , given the fact that there can be lakhs ( if not millions ) of permutations / combinations of the above-mentioned elements , one must not attempt to define what is E Commerce ( and what is not ) , by inclusion or exclusion of these elements in definition Such a complex definition would lead to thousands of court cases involving Governments and each court interpreting the definition , differently ! The only definition that would satisfy ALL of these permutations / combinations , is : Any exchange of " Value " between any number of parties , involving , > Goods or Services , on the part of one party with, > Money or its equivalent consideration , on the part of a second party with or without using, > Intermediary services , on the parts of any other parties -------------------------------------------------------------------------------------------------------------------------------- I hope the " DRAFT GST LAW " refrains from defining " E Commerce " separately - and as distinct from plain vanilla commerce GST Law must adopt a BROAD / ALL-ENCOMPASSING , definition of " Commerce " -------------------------------------------------------------------------------------------------------------------------------- 17 June 2016 www.hemenparekh.in / blogs -------------------------------------------------------------------------------------------------------------------------------- Make Yourself Heard Dear Visitor : It is time for YOU to speak up - and demand that YOU are heard By emailing this suggestion - incorporating your OWN improvements - to the following Policy Makers ( Just multiple copy all the following Email IDs into the Recipient column of your Outlook and Copy / paste this suggestion in the Message Box ) : narendramodi1234@gmail.com; 38ashokroad@gmail.com;ajaitley@del5.vsnl.net.in; jayant.sinha19@sansad.nic.in;piyush.goyal@gov.in;nitin.gadkari@nic.in; spprabhu1@rediffmail.com;bandaru@sansad.nic.in;smritizirani@nic.in;nsitharaman@nic.in; ravis@sansad.nic.in;sureshprabhu@irctc.co.in;prakash.j@sansad.nic.in;secy-ipp@nic.in; amitabh.kant@nic.in; shaktikanta.das@nic.in; rsecy@nic.in; adhia1981@gmail.com; ceo-niti@nic.in; atul-chaturvedi@nic.in; uma.bharati@sansad.nic.in; d.pradhan@sansad.nic.in; rprudy.office@gmail.com; rudypr@rediffmail.com; eam@mea.gov.in; mosvks@mea.gov.in; mvnaidu@sansad.nic.in; mnaqvi@sansad.nic.in; rao.inderjit@sansad.nic.in; mljoffice@gov.in; sadananda.gowda@sansad.nic.in; ministerminority@gov.in; najmah@sansad.nic.in; minister-ca@nic.in; ramvilas.paswan@sansad.nic.in; gandhim@sansad.nic.in; akumar-alpha@sansad.nic.in; jpnadda@sansad.nic.in; hm.moca@nic.in; geete@sansad.nic.in; simratbadal@yahoo.com; ns.tomar@nic.in; rmsingh@sansad.nic.in; tc.gehlot@sansad.nic.in; dr.harshvardhan@sansad.nic.in
Posted by Hemen Parekh on 17/06/2016 12:23:39


Comments on : Cenvat Credit Rules, 2004 Union Budget 2016


Excellent ...
Posted by Govind Kumar Agrawal on 29/05/2016 12:57:35


Comments on : How to Study, Write & Score in AUDIT


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Comments on : How to Study, Write & Score in AUDIT


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Comments on : IPCC LAW Revision lecture by CA Ankita Patni - Part 3


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Comments on : Income tax efiling


sir, I have down loaded ITR 4 , FILLED EVERY PAGE. BUT COULD NOT FILL PART B TTI of 2a & it is not allowing me to fill & validate . with out which I cannot proceed . Pl help
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Comments on : CARO 2015


Thanks alot sir.....very well explained
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Comments on : CARO 2015


Thank you so much, sir. :) Explained really good. Yaad reh gay sab...special thanks for all special cases. Sir, kindly keep sharing important topics in such a style.
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Comments on : How to complete Corporate & Allied Laws (CA Final)


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Comments on : How to remove tally password easily


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