New Delhi, Nov. 7 -- Confederation of All India Traders (CAIT) has demanded shutting down of homegrown e-commerce platform Flipkart, alleging that the company has caused massive losses to government revenue.
Citing the companys balance sheet, CAIT said that it has levelled charges against the Binny Bansal and Sachin Bansal-founded company for causing huge GST & Income Tax revenue loss to the government, gross manipulations for controlling inventory, bypassing the FDI policy and indulging into sinister game of valuation of the Company instead of conducting business in an open and transparent manner.
Further, the industry body has said the government must order for the closure of Flipkarts e-commerce business and set up committees to ...