Flipkarts Violations
How traders and retailers will be impacted is an important and seperate issue but here Flipkart is in gross violation. Read Below.
Flipkarts own admission before a tax authority shows that Flipkart is engaging in buying of goods which are ultimately sold on their platform. Flipkart has likely circumvented the law by routing the sales via their preferred sellers, who are their affiliates. Actually a clear case of what they cannot do directly, they are doing it indirectly and this goes against the teeth of any law, including FDI policy. more
Flipkarts own admission before a tax authority shows that Flipkart is engaging in buying of goods which are ultimately sold on their platform. Flipkart has likely circumvented the law by routing the sales via their preferred sellers, who are their affiliates. Actually a clear case of what they cannot do directly, they are doing it indirectly and this goes against the teeth of any law, including FDI policy. more
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Oct 31
Under FDI policy, a company that has received foreign investment is permitted to work either as a marketplace (whose activity is limited to providing a platform to connect buyers and sellers, and provide services such as warehousing, shipping, billing services,etc., to sellers on the platform, and is NOT permitted to own inventory or inflience the pricing or discounting of the products sold) or as a B2B e-commerce seller. If Flipkart is positioning itself as a marketplace, ownership of inventory would be contrary to that positioning and technically to the FDI Policy. more
Jun 04
All business are big cheats. Unless they cheat, they cannot become super-rich. They bribe the authorities and get away with their crimes.The only remedy is for the citizens to expose such financial malpractices and take legal action against them. Take it from me; India is NOT a poor country. India is a poor country of rich and corrupt people! Examples: Laloo Yadav, Rajus of Satyam scam and others of their ilk. Just wait for the former finance minister Chidambaram's case to come to its logical conclusion. more
Jun 02
