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The Impact of GST on E-Commerce Business | GST Tax India, Goods and Services Tax
E-commerce is a revolutionary concept that has changed the scenario of doing business breaking the geographical boundaries and providing ample convenience to the consumers. It was not long back that the term e-commerce was unheard of, but today it is posing a great risk to the neighbourhood stores. One of the studies suggests that in December 2016 India's e-commerce market had crossed Rs. 211,005 crore. By the year 2020, the Indian e-commerce market is expected to generate online retail revenue of $100 billion. With the uprising of the Electronic Commerce in the country, the conception of many online marketplaces took place. Even the FDIs (Foreign Direct Investments) are allowed by the Government of India to promote these marketplace business models. Now, with GST (Goods and Services Tax) set to roll out from 1st July, a number of third-party sellers on these marketplaces are sceptical about the compliance requirement that will be required under the new tax regime. Under the GST, e