Govt to set up committee to review e-commerce rules
Posted on:10 Aug 2016 18:26:37
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10 August 2016 Current Affairs: The government has decided to set up a committee to look into all issues including foreign direct investment norms pertaining to the fast growing e-commerce industry in the country.
The committee will be headed by the NITI Aayog CEO. The other members in the panel includes officials from commerce and industry ministry and department of electronics and IT among others.
Representatives from four states including Maharashtraand Karnataka are also members of the panel. Some e-commerce firms are facing taxation related problems in few states.
Setting up of this panel also assumes significance as the government has recently permitted 100 per cent FDI in food processing sector. There is also an issues related to ecommerce players selling pharmaceuticals.
The Department of Industrial Policy and Promotion (DIPP) has allowed 100 per cent FDI through automatic route in the marketplace format of e-commerce retailing in March.
As per the guidelines, FDI has not been permitted in inventory-based model of e-commerce.
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