Modi Government to stop Chinese companies from robbing India.

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Reference -
https://economictimes.indiatimes.com/industry/services/retail/government-tightens-check-against-chinese-e-comm-players-escaping-taxes/articleshow/68731744.cms?from=mdr
https://economictimes.indiatimes.com/news/economy/policy/india-to-rein-in-chinas-gift-horse/articleshow/69749356.cms




Hello Friends, welcome to Real Quick Info channel, Please subscribe our channel, like and share this video. Now you can also support us by becoming our patrons. Lets discuss our Real Quick Analysis.



you all are aware of Chinese online retailers like Club Factory and Ali Express have been taking unfair advantage of Indian law to avoid paying custom duty and GST.



Indian domestic law allows that if any individual receives a gift of up to 5000 Rupees, such gift doesn't attract any tax. 



You all know, this rule has been made for common man like all of us. But Chinese companies have been importing a very large number of Chinese goods as gifts on a single Indian address. Afterwards, such gifts were sent to individual customers using courier service, and customer was required to pay on delivery. 



Sometimes, by avoiding the payment of taxes, these Chinese companies were able to sell products much cheaper than other online retailers like Flipkart and Amazon, which have been paying taxes on all the imports.



Now, you would say, These Chinese companies are so generous that they are selling cheap products to you.



But you all understand, this is Chinese tactic to kill the competition by offering the products on very lower price. Moreover, there is no guarantee, that Chinese companies have been passing the unpaid tax as lower price to customers on all of their products.



If you look from short term view, you can consider Chinese tactic  beneficial to you personally, but if you look from long term perspective, Chinese tactic was basically to rob India.



For last one year, Indian custom and Postal departments have been monitoring such imports marked as gifts. It was also made mandatory for these Chinese online retailers to register in India. you all know, this is not a smart way. 



But now as per the reports published in Economic Times news paper, In next budget, Indian government is going to change the custom rules governing the gifts.



Hopefully, in future, to receive gift item from abroad, customer will have to provide either his Aadhar or passport  number. moreover, there will be cap on number of foreign gifts a person can receive in one year.



Hopefully, this rule will prevent cheater Chinese companies from importing 2 Lakh goods per day on one address as gifts.



However, this Chinese companies are very cunning, sooner or later they will find some way to avoid tax to cheat government of India in the beginning and people of India later on.



Hence, our government must remain vigilant always and modify the law and rules so that China could not take unfair advantage from India.



For now, we will wait for these rule changes in this year's budget speech.



Today's very easy question is, On line retailers of which country were robbing India by importing Chinese goods as gifts in India.


Please answer today's question in comment box below.





A number of our viewers, have correctly answered the easy question, which was asked in our last video. Today's  lucky winner is Rahul Debnath   . 





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