E-Commerce portals under special review: File Quarterly Tax Return

E-Commerce, though a familiar word that is read and heard in our daily life, it has always been in news. May be either for their profitability or for their fund raising and many other reasons like this. This segment, as we mentioned in our article,E- Commerce: Full of mysteries, is now agreed by the government too. Many though are loss making companies but still they manage to raise high funds every quarter from various sources.   oie_sCCXrGmdKV3n Government, to closely peep into these e-companies workings and to understand its strategies has decided to bring all big and small companies on e-commerce platforms under the scanner to check evasion of tax. Value Added Tax department will issue a notice regarding mandatorily filing of Quarterly Tax Returns for all online portals. To start this, Delhi government’s Value Added Tax department has prepared a detailed set of guidelines on the process to be followed for all online portals and even the dealers transacting through them. States like Karnataka, Kerala and Rajasthan too shall join hands to stop the evasion of tax by such dealers. Many such steps are being taken by government exclusively on e-portals to identify bogus dealers and evasion of tax. In addition, data of all registered dealers who sell and purchase through online portals shall be reviewed for any discrepancy in their statements filed as part of the tax returns. __________________________________________________________________