India's Enforcement Directorate inquires Amazon for information associated with its operations in the country because the agents continue to search the US e-commerce giant, a senior agency source told Reuters on Friday.
Last month, the resource at the country's federal financial-crime fighting agency said that the Directorate will examine the findings during a recent Reuters special report which revealed the corporate has given preferential treatment to a little group of sellers on the Indian platform and used to bypass the country's foreign investment rules.
Amazon has the several years been under investigation by the agents for possible violation of foreign investment regulations.
The documents reviewed by Reuters showed that Amazon helped a little number of sellers prosper on its India platform, giving them discounted fees and helping one cut special deals with big tech manufacturers like Apple.
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The Enforcement Directorate (ED) has sought information from online retail giant Amazon for the second time regarding alleged foreign exchange violations by its vendors. The development comes when the Indian government is pushing back against digital transactions to crack down on tax dodgers. Amazon, last year, shut down its gift card-based app Amazon At Amazon India, which was launched in 2015 to enable customers to send e-gift cards.
Further to the first inquiry by the ED in 2016, Amazon has now been asked for information on sellers who are using its platform to make or receive payments in Indian rupees between July 1 and December 31, 2016, said a source privy to the development. "The latest letter pertains to payment made by an individual seller against invoices raised by him over his business transactions done through Amazon's portal," said the source requesting anonymity. The ED is also seeking details about brands promoted on Amazon's online marketplace without proper registration with the Controller General of Patents, Designs, and Trademarks. Amazon India's tax-related queries in another inquiry by the ED pertain to its commission from sellers for providing an online marketing platform.
SHOCKING…..Why would any Government agency need such information? I feel that we are going back to the time of Licence Raj and all kinds of investigation agencies just wasting taxpayers' money in harassing business people. We should rather see how we can support Indian retailers and their efforts to become more and more compliant with international standards to bring them under a level playing field where price wars will create better conditions for both buyers & sellers on global platforms like Amazon!
Indiatimes, April 10, 2017, at 10:11 PM
Amazon India's ship may finally be turning around, thanks to its Big Billion Day Sale held between October 6 and 8. During the sale period, Amazon US parent company registered a whopping 300 percent increase in sales originating from India (over the previous daily average).
This is not all. Average daily shipments originating from India during the promotion were up more than two times. The number of new customers using Amazon Prime membership doubled during this time frame. Daily orders for Amazon Pantry products increased by three times.
Meanwhile, looking at these numbers, it comes as no surprise that Amazon has decided to extend these promotions across months, beginning with Black Friday on November 18, where it hopes to ramp up sales figures further. And this move makes sense, given that the Indian e-commerce market is projected to hit $119 billion in the next few years.
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