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In a move that is required to help Foreign Investments in the e-commerce space, the government on Tuesday elucidated its position on foreign investment in e-commerce and allowed 100 per cent FDI in the marketplace configuration of e-commerce retailing under the automatic course.  While FDI has not been allowed in stock based model of e-commerce, the government extended the meaning of marketplace to incorporate bolster administrations to sellers as for warehousing, logistics, order satisfaction, call center, payment accumulation and different administrations.  In spite of the fact that the elucidation comes without clear FDI guidelines on different online retail models, the online marketplaces in India have as of now seen substantial outside ventures by a few worldwide players, (for example, Amazon) and into homegrown players, (for example, Flipkart and Snapdeal) who are working in the space.  To bring clarity, the DIPP has additionally turned out with ...

A warehouse worked by India's biggest e-business company Flipkart in Ghaziabad has gone under the scanner of the Commercial Taxes Dept. of Uttar Pradesh, which has slapped a penalty of Rs 13.8 lakh on the company, blaming it for non-compliance with the rules identified with import of goods. "Two trucks were bringing shoes from outside Uttar Pradesh for the Dasna-based warehouse of Flipkart. On the other hand, they were convey a bigger number of goods than they had declared. Likewise, we discovered a blank Form 38 with them, which is an issue of non-compliance," said an official of the raid team. Form 38 – Whenever one company sends products and merchandise starting with one state then onto the next, an appropriately filled Form 38 should be sent with the goods. The authority discovered 171 sets of shoes in the truck that were undeclared. As per an alternate report, goods worth INR 47 Lakh have been seized by the powers. The authority further included that the office h...