Tag Archive for Direct Selling Legislation

Hot Business News Today

Direct Selling Business Critical For India’s growth

by  •  • 0 Comments

 
The Indian direct selling industry has an advocate in the Department of Industrial Policy and Promotion (DIPP) of the Ministry of Commerce. Speaking at an event about Direct Selling, Amitabh Kant, Secretary (DIPP) said that said that the Direct Selling industry is a critical part of India’s growth story as it contributes to employment, entrepreneurship, growth of MSMEs, and most importantly women empowerment, according to a press release by the Confederation of All India Traders (CAIT).
Speaking at an event about direct selling – the marketing and selling of products directly to consumers away from a fixed retail location, by industry body (Ficci), Kant said the industry had enormous growth potential.

“Direct Selling business is a part of Make in India. It should not be equated with fraudulent financial schemes and should gain government recognition

Read more...

Hot Business News Today

India To Introduce New SOPs For Law Enforcement Investigating Illegal MLM

by  •  • 0 Comments

 
A new set of Standard Operating Procedures (SOP) is being formulated by the government for central and state law enforcement agencies for probing illegal multi-level marketing or ponzi schemes. 
Sources said the dos and don’ts for investigating these fraudulent schemes are being drawn up by Central Economic Intelligence Bureau (CEIB) in coordination with Department of Financial Services. 
The move comes following instances in which investors have been duped of their hard earned money through ponzi schemes–a swindle in which quick return on an investment is offered. 
Sources in the CEIB, which acts as the nodal agency for economic intelligence, said they will share the SOP with investigating agencies once they are finalised. 
Major such scams being probed include those relating to Rose Valley and Saradha chit fund wherein investors lost about Rs 15,000 crore and Rs

Read more...

Hot Business News Today

Indian Trade Body Asks Govt for Direct Selling Regulations

by  •  • 0 Comments

 
The Confederation of All India Traders (CAIT) has asked the Centre to make specific rules and regulations for the direct selling industry in the country.
In a communication sent to Union Finance Minister Arun Jaitley on Thursday, the traders body also said there is mass scale of tax avoidance in direct selling business. Therefore, a policy needs to be framed to bring direct sellers under the tax net.
CAIT National President B C Bhartia and Secretary General Praveen Khandelwal, in communication sent to Jaitley, said goods sold by such companies to its members or franchisees are taxed at origin stage only. After that the said goods travel through channels but neither the tax is charged nor any sale statement is filed with the tax authorities. The current value-added tax (VAT) system is a destination-based

Read more...