New Delhi: The Delhi Government has 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.
This may prompt some online retailers, who have not registered themselves with the government, to hike prices of product to meet the additional VAT cost, as per media reports.
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.
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.
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.
With PTI Inputs
