If passed through Parliament, the Amazon Tax will slam all goods and services imported into Australia through online shopping with a 10% GST tax from July 1st.
"The only thing the industry is waiting for is the rates for different goods and services, and the GST Council is having regular meetings to determine that", Khemka said, adding that once the rate figures are released, it will only be a matter of plugging in numbers. Also until the final tax structure is laid out, which would take place after GST rollout on July 1, this year, the companies won't be able to list new prices for their goods, observed a market analyst.
The association through its spokespersons said, "e-commerce definition, as given in the Goods and Services Tax (GST) dispensation, has been left so wide that it could go well beyond Amazon or Flipkart marketplace platforms and may even cover the commodity exchanges".
Khemka said the government will take industry representations seriously if clear justifications are offered, but the indirect tax laws will expire September 15, meaning the goods and services tax regime can't be delayed until all companies to catch up.
According to Ebay's submission to the Senate Economics Legislation Committee, this "appears to be the most likely outcome at present".
It also wondered why the government had provided no rationale for ignoring a recommendation from a previous government taskforce to use a logistics model to collect GST. A great amount of clarity has been sought with regard to treatment of GST relating to banking, telecom, banking services, exports, gems and jewellery and MSME sectors, among others.
'Mother of all bombs' killed 94 ISIS fighters, Afghan officials say
The fatalities are also said to include four top ISIL commanders. "We were all scared, and my children and my wife were crying". White House spokesman Sean Spicer said Isis fighters had used the tunnels and caves in Achin to manoeuvre freely.
Under the current regime, the Centre has the power to levy tax on production of goods (except liquor for human consumption, opium, narcotics) while the states have the power to levy tax on sale of goods. If not, transactions after that may be deemed illegal under the law, said the chief commissioner of central excise, customs and service tax AK Pandey.
Nangia & Co Director (Indirect Taxation) Rajat Mohan said now taxes on services are levied by the central government at a general rate of 15 per cent.
We had recently reported that service tax under GST would increase to 18%, for some products and services.
"The government would like to restrict the inflationary impact of GST which could be done only by ring-fencing all such services in the tax bracket close to the current rate of taxes", Mohan added.
A Deloitte Access Economics study, commissioned by eBay, says more than 1 million Australians are offering goods or services on digital platforms such as Airbnb, Airtasker eBay and hipages.