Rules may be eased to help e-commerce companies boost exports

Source: The Economic Times, July 23, 2017

NEW DELHI: To enable homegrown ecommerce players such Myntra, Snapdeal and a host of handicraft and garment platforms to expand their global footprint, India is looking to revamp the export framework governing overseas sales by them. The measures under consideration include a complete switchover to e-enabled filing systems and even doing away with the current cap of Rs 25,000 on a purchase.

“A number of steps have been identified to make it easier for the ecommerce sector to trade,” said a senior finance ministry official. A pilot has already been launched in Mumbai and will be expanded to other customs ports. Exports via these online marketplaces rely on couriers and small packages and often involves a lot of paperwork at the ports. Essentially, these couriers act as aggregators for ecommerce platforms.

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Chinese ecommerce giant Alibaba wants a stake in BigBasket

index.jpgSource: The Economic Times, July 19, 2017

BENGALURU: Chinese ecommerce giant Alibaba has joined investee firm Paytm Mall in the talks to pick up a stake in BigBasket, according a person familiar with the developments.

Separately, India’s largest online grocer is holding fundraising talks with Singapore’s sovereign wealth fund Temasek Holdings and China’s Fosun Group as well, another person said.

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Flipkart sends Snapdeal revised buyout offer of $850 million

downloadSource: LiveMint.com, July 18, 2017

Bengaluru: Online retail firm Flipkart has sent a revised buyout offer to smaller rival Snapdeal of roughly $850 million, said two people familiar with the matter.Flipkart has offered to pay $650-700 million in stock immediately and another $150 million at a later date, the people said.

The board of Snapdeal (Jasper Infotech Pvt. Ltd) met on Monday night to consider the offer, the people said.Flipkart’s offer includes Snapdeal’s marketplace business and Unicommerce but not Freecharge and Vulcan Express, the people said.

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Govt to make MRP, expiry date mandatory on goods sold online from Jan 2018

download (5).jpgSource: Business Standard, July 10, 2017

New Delhi: To protect online consumers, the government has made it mandatory for e-commerce companies from January 2018 to print not only the MRP on goods but also information like expiry date and customer care details.

An amendment in this regard has been made to the Legal Metrology (Packaged commodities) Rules, 2011 by the consumer affairs ministry last month. A six-month deadline has been given to the companies to comply with the new rule.

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Amazon invests Rs1,680 crore more in its India unit

download.pngSource: LiveMint.com, July 06, 2017

Bengaluru: Amazon, the world’s biggest online retailer, has invested another Rs1,680 crore in its Indian unit as part of its commitment to invest $5 billion to expand its local business, which is locked in a battle with arch-rival Flipkart to dominate what is seen as the world’s last major unconquered Internet market.

Amazon Seller Services Pvt. Ltd (Amazon India) received the funds last month, according to regulatory documents filed with the ministry of corporate affairs.

In June 2016, Amazon.com Inc. had said it would invest an additional $3 billion in India after the company exhausted its earlier investment pledge of $2 billion made in 2014.

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GST impact on e-commerce: Marketplaces put an embargo on non-compliant merchants

Source: ETRetail.com, Jul 04, 2017

BENGALURU: Thousands of online merchants not yet compliant with the new sales tax have been barred temporarily by marketplaces from selling on their platforms. But several are also opting out because of a seeming lack of commercial viability under the new rules.

Online marketplaces such as Flipkart and Amazon India have made it mandatory for their merchants to register on their platforms with their new Goods and Services Tax Identification Numbers (GSTIN) by July 1, as the new tax became effective. But several vendors haven’t been able to obtain GSTINs yet for various reasons. While this could reduce availability of products in certain categories, online marketplaces insist overall sales would not be affected. Read the rest of this entry »

MRP, expiry dates a must on ecomm products soon

Source: ETRetail.com, June 29, 2017

BENGALURU:Ecommerce companies will have to declare online the expiry dates and maximum retail prices of packaged consumer products under new rules meant to protect consumers from being sold old goods.

The Ministry of Consumer Affairs, in a notification dated June 23, has amended the Legal Metrology (Packaged Commodities) Rules, 2011 to bring ecommerce companies and online marketplaces under its purview. Under these rules, ecommerce companies will also have to display the country of origin on their online product pages.

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