Piyush Goyal says no to a global company in multi-brand retail

Last Updated at: December 06, 2019
432

HIGHLIGHTS:

  • India will not permit foreign firms in multi-brand retail
  • Govt. urges traders to avail the benefits of MUDRA scheme
  • Predatory pricing will not be entertained and stringent action will be taken against defaulters.

Commerce and Industry Minister Piyush Goyal assured that no global companies in multi-brand retail and strict action will be taken against companies involving in predatory pricing. Indeed, the minister said this in a meeting with the representative of Kirana stores, traders and retailers in Delhi.

register your company now 

In the meeting, the representative of associations of Kirana stores, traders and retailers had voiced out for the need of level playing field for all the marketers and the e-marketplace and the severe impact on anti-competitive prices such as predatory pricing i.e., selling products and service at very low price with the intentions to achieve new customers.

He also invited all the participants of the event to send their suggestion on the draft e-commerce policy in the next five days.

Only after considering every suggestion received by Department of Promotion of Industry and Internal Trade (DPIIT), the final decision will take place.

And, Confederation of All India Traders (CAIT) demanded early formulation of an e-commerce policy and asked for the formation of the regulatory authority to regulate and monitor the e-commerce business practices with adequate power to penalize the action violating the policy.

It should keep a check on the predatory pricing and deep discounts by e-commerce players. The CAIT also submitted a detailed note demanding the same restrictions imposed on international players be made applicable to domestic e-commerce players.

Piyush Goyal asked the traders to use e-marketplace and avail benefits of central government’s business funding scheme MUDRA to improve their business.

Is interest exempt from GST?

Derivatives are securities as per the regulation- Securities Contracts Act 1956. They are not accountable to GST. However, brokerage, service charges, etc. are subject to GST. Understand the procedure for GST registration and GST returns.

Who can digitally sign the MSME Form I?

The director or the manager of the company whose sign is available on the MCA Portal can digitally sign the MSME I form. More on Income Tax Return Filing.

What are PAN and TAN?

The government issues PAN which is a ten-digit to every taxpayer. TAN is also a ten-digit alphanumeric number which is issued for people who are eligible to deduct TDS. Learn more about ISO Certification.

What is the difference between ISO 9001 certification and ISO 9001 accreditation?

Both the standards ISO 9001 certification and ISO 9001 accreditation confirms ISO 9001 QMS or quality management system. Moreover, the evidence is in the form of certificate. More info on NGO Registration in India.

Where to go for applying for 80G certificate?

The 80G Certificate can be registered at the Income Tax Office under whose administration your registered NGO address is in. More about Udyog Aadhar Registration.

0

Piyush Goyal says no to a global company in multi-brand retail

432

HIGHLIGHTS:

  • India will not permit foreign firms in multi-brand retail
  • Govt. urges traders to avail the benefits of MUDRA scheme
  • Predatory pricing will not be entertained and stringent action will be taken against defaulters.

Commerce and Industry Minister Piyush Goyal assured that no global companies in multi-brand retail and strict action will be taken against companies involving in predatory pricing. Indeed, the minister said this in a meeting with the representative of Kirana stores, traders and retailers in Delhi.

register your company now 

In the meeting, the representative of associations of Kirana stores, traders and retailers had voiced out for the need of level playing field for all the marketers and the e-marketplace and the severe impact on anti-competitive prices such as predatory pricing i.e., selling products and service at very low price with the intentions to achieve new customers.

He also invited all the participants of the event to send their suggestion on the draft e-commerce policy in the next five days.

Only after considering every suggestion received by Department of Promotion of Industry and Internal Trade (DPIIT), the final decision will take place.

And, Confederation of All India Traders (CAIT) demanded early formulation of an e-commerce policy and asked for the formation of the regulatory authority to regulate and monitor the e-commerce business practices with adequate power to penalize the action violating the policy.

It should keep a check on the predatory pricing and deep discounts by e-commerce players. The CAIT also submitted a detailed note demanding the same restrictions imposed on international players be made applicable to domestic e-commerce players.

Piyush Goyal asked the traders to use e-marketplace and avail benefits of central government’s business funding scheme MUDRA to improve their business.

Is interest exempt from GST?

Derivatives are securities as per the regulation- Securities Contracts Act 1956. They are not accountable to GST. However, brokerage, service charges, etc. are subject to GST. Understand the procedure for GST registration and GST returns.

Who can digitally sign the MSME Form I?

The director or the manager of the company whose sign is available on the MCA Portal can digitally sign the MSME I form. More on Income Tax Return Filing.

What are PAN and TAN?

The government issues PAN which is a ten-digit to every taxpayer. TAN is also a ten-digit alphanumeric number which is issued for people who are eligible to deduct TDS. Learn more about ISO Certification.

What is the difference between ISO 9001 certification and ISO 9001 accreditation?

Both the standards ISO 9001 certification and ISO 9001 accreditation confirms ISO 9001 QMS or quality management system. Moreover, the evidence is in the form of certificate. More info on NGO Registration in India.

Where to go for applying for 80G certificate?

The 80G Certificate can be registered at the Income Tax Office under whose administration your registered NGO address is in. More about Udyog Aadhar Registration.

0

No Record Found
SHARE