State Times NewsJAMMU: The National apex body of Traders and Retailers, Federation of All India Vyapar Mandal (FAIVM) has requested Union Finance Minister and Union Minister for Industry & Commerce to initiate enquiries on some suspected aspects of festive mega sales announced by e-commerce portals like Amazon, Flipkart etc.In a letter sent to Union Finance Minister and Union Minister for Industry & Commerce, FAIVM alleged that hefty discount in nature of predatory pricing; cash back by credit/ debit card banks, and high rate of interest on EMIs offered for buyers are major issues which need to be scrutinized thoroughly. FAIVM has further expressed concern whether GST being collected by vendors is properly deposited with Government as per norms as about 6.5 lakh new vendors have been added by e-commerce portals and about most of sales are happening in Tier-III and rural areas, where awareness on GST is not adequate.Talking to media V K Bansal, National General Secretary, FAIVM said that share of e-commerce is likely to double this festive season from 5 per cent to 10 per cent. “About 50 million new shoppers are expected to join e-shoppers list, out of which about 50 per cent will join from Tier-III cities (rural areas). On the other hand, e-commerce platform has added about 6.50 lakhs new vendors, mostly from tier-II and Tier-III cities,” he added.
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