Online sales of auto components have been hit by complex GST model for e-commerce players, online marketplace boodmo said. Exclusion of e-commerce businesses from the composite scheme, a higher tax rate of 28% for auto components and for logistics of spare parts as well, and a complex GST model has impacted adversely e-commerce start-ups, the co- founder of boodmo, Oleksandr Danylenko, said in a statement.
“Our new venture, which was emerging as a ‘sunrise’ business, is badly impacted due to GST’s complex and cumbersome model, especially for e-commerce businesses.
The 16-point invoice is not as per the marketplace requirement and, this way, businesses like boodmo, which is heavily dependent on suppliers, can neither buy nor sell its products,” Danylenko said.
